Acwa Power will power its planned desalination plants in Egypt via a series of solar facilities, Country Director Hassan Amin told the local press. The cabinet announced in September that Acwa was planning to submit a proposal to establish a desalination plants, and the company last month signed an initial agreement with the Holding Company for Water and Waste Water to conduct a feasibility study into the project. The Saudi renewable energy company plans to construct the desalination plants and sell the water to the state-owned water company. It is currently in talks with the Egyptian government over land but has not yet negotiated a selling price for the water.
More from Enterprise
Israel’s Arkia Airlines moves flights to Egypt’s Taba to bypass wartime airspace restrictions
Israel’s Arkia shifts some flights to Egypt as airspace tightens…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Private capital hasn’t frozen in MENA — but the exit playbook could change if the war drags on
PE and VC-backed companies were already pivoting to local exchanges…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…