Spain’s Acciona, ENARA set up $179.9 mln solar PV plants in Egypt

Acciona Energia, the renewable arm of Spanish energy company Acciona SA, and Enara Bahrain Spv WLL (ENARA), a vehicle of Saudi investment firm Swicorp, have closed on the building of three solar photovoltaic (PV) plants totalling 150 megawatts in Egypt.

The three plants, which are situated in the Benban solar complex in Aswan region, cost about 158 million euros ($179.9 million) and will be 50/50 held by both companies.

The International Finance Corp. and the Asian Infrastructure Investment Bank provided support to fund the projects.

Acciona said one of the plants will commercially operation in the coming days, while the other two will start operating over the next few weeks and are capable of producing enough electricity to meet the demand of 150,000 Egyptian households.