MASTER PROJECT

MASTER PROJECT

  • MAIN OBJECTIVE

    The development of renewable energies’ industry in Egypt by implementing a 5000MW solar energy project

  • OUR ROLE
    © Fotolia
    •  To facilitate/oversee approx.  $5.25 Billion (USD) of Foreign Direct Investment (FDI) in the development of a Concentrating Photovoltaic, Photovoltaic and/or Concentrated Solar Power (CPV, PV and/or CSP) Solar Power Project of up to 5000 MW.
    •  To complete the project in multiple short-term Phases, with Phase I consisting of up to $540 million (USD) and 300 MW (pilot).
    •  To bring the most qualified industry leaders to Egypt for the execution of Solar Power Projects.
    •  To develop finance and operate the Solar Power Plants on a Build, Own and Operate (BOO) scheme.

PROJECT 1 KEY HIGHLIGHTS

The Consortium commits to providing power production within twelve (12) months of signing the Power Purchase Agreement (PPA)

The Program will setup CPV, PV and/or CSP Power Plants across the country  providing electricity to people and businesses that currently lack access or have unreliable access

The construction and existence of the HCPV Power Plants will provide a source of ongoing education, employment and industry specific knowledge to the Human Capital Development (HCD) program

The Solar Power Plants will ultimately provide a growth jump –  start to any existing local businesses as well as SMEs thereby increasing economic benefit

300MW

SOLAR POWER PROGRAM

INTEGRATED PROJECT COMPONENTS

We will invest in a 200MW Module and Inverter Factory to produce modules and inverters to be used by the Project’s own solar power plants and for export across MENA

Small and Medium Enterprise(s) (SMEs) Entrepreneurship(s) Fund will support the existing SMEs sector and encourage upcoming entrepreneurs in Egypt in the fields related to solar energy technologies by providing interest-free loans

The Human Capital Development (HCD) Program includes knowledge transfer initiatives through education, qualification and training programs for Egyptian nationals thereby making them skilled and employable in the fast-moving solar energy industry

CPV, PV and/CSP Power Plants producing a total of 300MW will be setup across Egypt to supply power to various cities around the country and harvest the highest possible irradiation

THE WAY FORWARD

  • Pre-implementation Studies
      • Upon signing of MOU, we will work out a detailed comprehensive business model, a soil and thermal analysis study and an economic feasibility study to implement the integrated solar energy concept in Egypt
      • Subject to receiving the necessary data and information from the relevant authorities in Egypt in a timely manner, it will take approximately six weeks to conduct all these studies and the related costs will be borne by the Consortium
  • Signing of the Power Purchase Agreement (PPA)

    Upon availability of required data and allocation of land, we will be in a position to submit a proposal to the Government to finalize the PPA including the purchase price for Phase 1

  • Project Execution

    Upon signing of PPA, Phase 1 (300MW) solar plant can start producing power after twelve (12) months

The Consortium recommends the following steps as a “Way Forward” and we are open to further discussion and amendment on these steps:

The Consortium will submit a draft MOU to finalize the terms with the EETC in  Egypt.

Upon agreement of MOU terms by all parties, the Consortium delegation will visit Egypt to further discuss the Project and respond to any queries the EETC may have.

During the visit, the delegation and the EETC will sign the MOU defining the plan with all  the activities to be undertaken by both parties to have the Project up and running.

PROJECT 2 KEY HIGHLIGHTS

Set up a globally cost-competitive Module Factory with a nominal capacity of 200MW in Egypt

The Factory will use state-of-the-art equipment from global contending companies and managed by highly experienced globally renowned management firms and leading global companies in relative technology field

The Factories will start operations within twelve (12) months of signing the PPA and will deliver ‘Made in Egypt’ content to the additional 4700MW plants that the Consortium plans to implement

The factory will provide employment and lower transportation costs

200MW

MODULE & INVERTER FACTORY

EFFECTS OF PHASE 1 ON LOCAL ECONOMY & EDUCATION

  • Through the Project’s HCD Program, Egyptians will have the requisite knowledge of the entire value chain in the solar energy industry, from module and inverter manufacturing to panel installation and operations for large and medium scale projects
  • Small and Medium Enterprises (SMEs) form the backbone of any healthy economy
  • A key economic indicator of a robust and growing economy is the flourishing of the SMEs sector
  • The Project aims to support and grow Egypt’s bourgeoning solar energy sector
  • The Program fosters substantial know-how transferred from global players in the field to create a pool of technologically proficient Egyptians who can take their expertise to other MENA regions
  • The SMEs Fund helps Egyptian entrepreneurs participate and profit from the fast-growing local solar energy industry
  • The SMEs Fund provides non-interest bearing revolving loans to Egyptian companies

IMMEDIATE AND LONG-TERM BENEFITS FOR EGYPT

6,900*

estimated jobs will be generated during the 300MW Power Program’s construction period

450*

estimated full-time jobs sustained during the 300MW Power Program’s operations

The HCD Program is expected to support nearly

2,000

Egyptian students for training and knowledge transfer initiatives

The SMEs Fund will facilitate the emergence of up to

300*

Egyptian companies

* The numbers are preliminary and based on an Economic Impact Study undertaken by Ernst & Young for a similar project. These benefits will increase significantly for the 5,000MWp Project

The Project would substantially contribute to the Gross Domestic Product (GDP) of the Egyptian economy over its life span.

The Project will also potentially make Egypt a net exporter of electricity to MENA and Europe.

The Factories will be the ideal regional platform for the supply and export of modules and inverters to the Middle East and African countries, which have a robust pipeline of upcoming solar energy projects.

The Factories will be the ideal regional platform for the supply and export of modules and inverters to the Middle East and African countries, which have a robust pipeline of upcoming solar energy projects.