NREA set to appoint advisers by end of the year
Egypt’s New and Renewable Energy Authority (NREA) is moving ahead with plans to develop a 100MW concentrated solar power (CSP) project at Kom Ombo, some 65 kilometres north of Aswan, along the River Nile, in Upper Egypt.
Germany’s Lahmeyer is carrying out feasibility studies at the site and NREA expects to invite bids from consultants in September, with an award by the end of the year.
NREA will invite bids to build the project in February 2012, with bids to be submitted during the third quarter of 2012 and an award by the end of 2012.
Germany’s kfW, African Development Bank (AfDB) and Washington’s World Bank have committed to providing support for the project, along with the European Investment Bank (EIB) as a lender.
The project is expected to cost about $525m in total. According to the preliminary funding plan, the borrower will supply $53m in equity, the IBRD will provide $170m, African Development Bank $170m and the Clean Technology Fund about $100m. The EU-National Indicative programme (NIP) will provide a $32m grant for the project.
The solar facility was originally intended to come online in 2014, but the project has encountered delays, most recently as a result of the uprising that overthrew President Hosni Mubarak.