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.

MENAFN2704201700450000ID1095423723

MENAFN2704201700450000ID1095423723

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