Cairo - Mubasher: TAQA Power, a subsidiary of TAQA Arabia, has signed an engineering, procurement, and construction (EPC) contract and a power purchase agreement (PPA) with Abu Soma Touristic Development (ASDC).
With total investments of $4 million, the new venture will build two photovoltaic (PV) power stations with a total capacity of 5 megawatts (MW) in Somabay in the Red Sea, according to a statement on Tuesday.
Somabay’s CEO, Ibrahim El-Missiri, commented: “Our primary objective is to generate the power required using solar energy to reduce electricity and water desalination cost, thereby closing the gap between our consumption and distribution demands.”
TAQA Power will build and operate a PV station with a capacity of 3.8 MW over a nine-month period on the land owned by Somabay. Taqa Power will be entitled to a 30-year concession management agreement of this station, the Managing Director of TAQA Power, Samy Abdelqader, said.
Moreover, TAQA Power will also design, deliver, and install another PV station, with a 1.2 MW capacity, and then transfer its management to ASDC, Abdelqader added.
