- Energy developer aims to increase Egypt’s renewable energy capacity.
- SolarizEgypt will implement the project.
Makadi Heights, one of Orascom Development’s fully integrated township projects, has signed an agreement with SolarizEgypt, to deploy a 1.5MW solar power plant in Eygpt.
Makadi Heights noted in a press statement that it would procure the project using the Build, Operate, and Transfer (BOT) model under a 25-year corporate Power Purchase Agreement (PPA) with SolarizEgypt.
SolarizEgypt will implement the project at an investment of 18 million Egyptian pounds ($1.15 million). The statement noted that the plant, spread over 15,000 square metres, is expected to start operation by the first quarter of 2023.
“The solar power plant will utilise 3,640 solar panels and is expected to generate over 3,304MWh/year, producing up to 20 per cent of the total power supply of Makadi Heights. This agreement will allow the solar power plant to offset 2,143 tonnes of CO2 each year, equivalent to removing 258 cars off the road, saving 219,000 gallons of gas, and planting 1,600 trees. This will definitely leave a positive impact on the overall environment scene in the Red Sea area,” Tamer Dewidar, CEO of Makadi Heights, said.