150 MW Wind and Solar Portfolio
Benben and Gulf of Suez, Egypt
Given a national shortage of at least 5 GW in electricity supply alongside fast growing demand, causing blackouts throughout the country, the new Egyptian government is moving quickly to secure additional supply. It is expected that Egypt will be adding over 1 GW in Solar Photovoltaic projects to the grid per year until 2020.
- 2 x 50MW PV Projects located in Benben and 1 x 50MW Wind located at Ras Gharib, Gulf of Suez
- 50% owned by DT
- Backed by sovereign guaranteed power purchase agreements
- Commercial Operation expected in September 2016
- Project Value in excess of 350 million USD
DT, alongside its Italian Partners, has been awarded two 50MW sovereign backed photovoltaic projects with a tariff of 0.143 USD/kwh for 25 years, and one 50MW wind project with a variable 20 year tariff depending on number of full operating hours per year. With this exceptional award, DT has further established itself as one of the leading developers in the region after its pioneering projects in Jordan.
The projects are 50% owned by DT and are our on track to achieve an annual IRR in excess of 30%. DT will also be acting as EPC contractor and O&M provider for the projects.