ACWA, Hassan Allam to sell electricity to gov’t at USD 0.018/kwh from Luxor plant

The Electricity Ministry, Saudi’s ACWA Power, and Hassan Allam Holding have agreed to set the final price for electricity generated from the USD 2.3 bn, 2.3 GW Luxor power plant at USD 0.018/kwh, ministry officials tell /Al Mal. The ministry will cover part of the cost of supplying the plant with natural gas in exchange for a lower-than-market-price for the energy produced. The three signed last week the power purchase agreement for the 2.3 GW plant, which is expected to reach full capacity by 2023.