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FinancialNews


  • 27-04-17

    Saudi-Alfanar to ink power deal with Egypt's EETC

    (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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