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FINANCIAL NEWS
Saudi-Alfanar to ink power deal with Egypt’s EETC
27 Apr 2017
(MENAFN) Saudi Arabian Co. Alfanar will ink a power purchase deal with the Egyptian Elect Tranmission Co. (EETC).
Accordingly, the firm paid the third installment of the cost-sharing agreement after an increase of its value by almost 35 percent.
Additionally, the firm managed to finish the fiscal closure of the new solar power plant with a capacity of 50MW and investments of more than EGP100mn.
Furthermore, Alfanar has collected USD200mn for the establishment of two new and renewable energy projects in Egypt, with a whole capacity of 100MW.
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MENAFN2704201700450000ID1095423723
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