Orascom unit gets licence to build 50-MW solar plant in Egypt - report

Solar power system. Author: Mountain/ \Ash. License: Creative Commons, Attribution 2.0 Generic.

September 1 (SeeNews) - The energy division of Egypt’s Orascom Telecom, Media & Technology Holding SAE (OTMT) has secured a licence and a land plot in Aswan to construct a 50-MW solar park.

The division, known under the name of O Capital for Energy, plans to build the facility in Kom Ombo, to the North of the city of Aswan, news portal Amwal Alghad said on Monday, citing O Capital’s CEO Tamer El Mahdi.

The total cost of the project is estimated at USD 100 million (EUR 88.6m).

O Capital entered into a concession agreement with the Egyptian Electricity Transmission Company (EETC) for the solar project last March, right after the company was established with the purpose of building, operating and maintaining various types of power plants.

(USD 1.0 = EUR 0.885)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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