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English news

30-Jan-2019

Renewable energy company Empower to invest USD250mn in WtE plants in Egypt

Renewable energy company, Empower, is planning to build 36 waste-to-energy (WtE) plants in Egypt at a total cost of USD250mn, company chairman, Hatem El Gamal, said. The company signed an agreement with leasing firm BM Lease and other backers to finance 70% of the planned development, El Gammal added. The firm is planning to sell electricity from the plants under the independent power producer (IPP) framework. Minister of Electricity, Mohamed Shaker, said last week that Egypt had received offers from regional and international companies to build renewable power generation facilities with a total capacity of 5.5 GW. 

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