Globeleq, a UK-based neutral power agency, has acquired a 48.3% stake in a 25 MW photograph voltaic plant in Egypt.
The Winnergy photograph voltaic plant, which has been in operation since 2019, is positioned in Egypt’s gigawatt-scale Benban Picture voltaic sophisticated and is adjoining to Globeleq’s 66 MW ARC photograph voltaic plant.
Globeleq bought the stake from Enerray, Enerray Worldwide Picture Voltaic Options, and Desert Utilized Sciences. It is now the co-shareholder of the Winnergy facility alongside Egypt’s GILA Altawakol Electrical. The two occasions will cooperate within the operation of the plant.
The Winnergy plant was developed as part of the second spherical of the Egyptian authorities’s feed-in-tariff program. Beneath a 25-year power purchase settlement with Egyptian Electrical Power and Transmission Co. (EETC), it affords roughly 58 GWh of contemporary electrical power per yr, or ample to supply power to round 13,600 residential clients.
“The addition of Winnergy is an environment friendly match with our present portfolio as we pursue additional options in Egypt by means of inexperienced hydrogen and ammonia, photograph voltaic, wind, and desalination,” acknowledged Globeleq CEO Mike Scholey.
British Ambassador to Egypt Gareth Bayley acknowledged that Globeleq’s acquisition demonstrates how British corporations can help Egypt’s energy approach. The Egyptian authorities have set a objective of reaching 42% of contemporary energy in its nationwide mix by 2035.
Globeleq acquired a 75% stake in a photograph voltaic plant in Mozambique in December 2023 and has since achieved a $37 million restructuring of two photograph voltaic crops in South Africa.
