The three solar power plants that Saudi’s ACWA Power will build in Aswan will cost around USD 190 mn, reports The National. ACWA signed power purchase agreements for the project with the Egyptian Electricity Transmission Company on Monday under phase two of the feed-in tariff program. The European Bank for Reconstruction and Development will supply half the amount, with the balance split between the International and Commercial Bank of China (ICBC) and the Multilateral Investment Guarantee Agency (Miga). ACWA will work on the projects with local development partners Tawakol and Hassan Allam. The company is reportedly also interested in opportunities to invest in desalination projects, in addition to renewable energy, Executive Chairman Mohammad Abunayyan told Oil Minister Tarek El Molla on Tuesday, according to Al Ahram.

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