Alcazar Energy has completed the construction of four solar power plants in the Benban complex in Aswan, with a total capacity of 200 megawatts (MW), Daniel Calderon, Alcazar’s Co-founder and CEO, told Al Borsa News.
The company will commence a pilot operation of the projects, one by one, beginning in March 2019.
Alcazar has a strategy to implement more projects and compete in a number of bid rounds to conduct solar plants and wind farms, the CEO noted.
Egypt’s credit rating improved a lot after the economic reforms the country adopted, Calderon stated, adding that the new laws in the energy sector are very attractive for investors.
The company submitted bids to the Ministry of Electricity and Renewable Energy to establish a solar plant and wind farm, and hopes it will be concluded in 2019, he noted.