Saudi Arabia’s ACWA Power is on the verge of signing a power purchase agreement (PPA) with the Egyptian government to establish Dairut gas-fired power plant, company CEO Paddy Padmanathan said.
It is expected that the new power plant will generate 2,400 megawatts (MW), he added.
The Saudi renewable energy developer put on hold memorandums of understanding (MoUs) that it had signed with the Egyptian government for setting up power plants in the North African nation with $14 billion in investments, the top official highlighted.
Padmanathan noted that ACWA postponed the project because the Egyptian government has not determined the plant’s location yet, according to Reuters.
Saudi Arabian electricity and water firm did not give further details concerning Dairut power plant.