ABIDJAN, 4 March 2021 -The Egyptian government has secured $27.2 million in partial funding for its $156.4 million 200 MW photovoltaic solar power plant at Kom Ombo.
The project, to be builit in Upper Egypt on the River Nile, will increase Egypt’s installed power generation capacity from renewable sources.
The plant is forecast to reduce greenhouse gas emissions more than 7 million tCO2e equivalent over a 25-year period.
During the construction phase, the project is expected to create 800 jobs.
The partial funding from the African Development Bank (AfDB) was approved Tuesdaby by the AfDB’s Board of Directors seating in Abidjan, Cote d’Ivoire.
“The Kom Ombo project is also contributing to the sustainability of a sector that is essential for Egypt’s competitiveness and industrial development,” officials at the AfDB said Tuesday.
Other funders include the European Bank for Reconstruction and Development, the Green Climate Fund (GCF), Arab Bank and the OPEC Fund for International Development.
Completion of the project will lead to lower electricity costs for businesses and residences.
The plant, to be situated 800 km south of Cairo, is owned by ACWA Power, a leading Saudi Arabian developer, investor and operator of power generation and desalinated-water plants worldwide.