https://newsletter.en.creamermedia.com
Contractor|Electrical|Energy|Engineering|Manufacturing|Power|Services|Solar|Equipment|Maintenance|Manufacturing |Operations
Contractor|Electrical|Energy|Engineering|Manufacturing|Power|Services|Solar|Equipment|Maintenance|Manufacturing |Operations
contractor|electrical|energy|engineering|manufacturing|power|services|solar|equipment|maintenance|manufacturing-industry-term|operations

Globeleq acquires 48.3% interest in Egypt solar plant

23rd April 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

Font size: - +

Independent power company Globeleq has completed the acquisition of a 48.3% equity stake in the 25 MW Winnergy solar photovoltaic (PV) plant in Egypt from Enerray, Enerray Global Solar Opportunities and Desert Technologies.

The plant, which is in operation, is located within Egypt’s flagship Benban Solar complex, near Aswan, and is adjacent to Globeleq’s 66 MW ARC solar plant.

“This transaction confirms Globeleq’s long-term commitment to Egypt where the company has been investing for 20 years. 

“The addition of Winnergy is a good fit with our existing portfolio as we pursue additional opportunities in Egypt across green hydrogen and ammonia, solar, wind and desalination.

“Egypt is committed to an ambitious energy transition programme and we look forward to playing our part,” says Globeleq CEO Mike Scholey.

The Winnergy plant was originally developed as part of the second round of the Egyptian government’s feed-in-tariff programme.

Beginning operations in 2019, it provides about 58 GWh/y of clean electricity to the Egyptian Electricity and Transmission Company, under a 25-year power purchase agreement, which the company says avoids about 30 000 t/y of carbon dioxide emissions.

GILA Altawakol Electric, an Egyptian group in electrical engineering, equipment manufacturing and services, remains the co-shareholder and operations and maintenance contractor of the Winnergy plant.

Globeleq and Altawakol have worked together since 2019 and will continue to cooperate on the asset management and operation of the plant.

“It gives us great pleasure to partner with a highly regarded company such as Globeleq. We look forward to leveraging their extensive experience to optimize the performance of the Winnergy asset. Gila continues to be committed to Egypt’s, and the global mission of, decarbonisation,” says GILA Altawakol Electric chairperson Amr Tawakol.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir
Weir

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.083 0.181s - 196pq - 2rq
Subscribe Now