Access To Make Major Investment in Egypt
Access Infra Africa (Access), a wholly owned subsidiary of Access Power MEA, and its consortium partner Eren, a leading global investor in power projects, have been prequalified by Egypt's Ministry of Electricity and Energy to develop large scale wind and solar power plants as part of the first round of Egypt's renewable energy procurement program.
In total, the Ministry expects to sanction $6 billion in combined investments in the solar and wind sector over the next three years, resulting in 2,300MW of solar PV power plants and 2,000MW of wind farms.
Access is aiming to build a renewable energy portfolio of 300MW in Egypt. The firm will finalize the size of its investment by end Q1 2015 once the Ministry of Electricity provides further clarifications about its procurement strategy.
Stephane Bontemps, Managing Director of Access, said: "Egypt is poised to become the largest market for solar and wind and power projects in MENA by 2017. We are delighted to be party of this exciting story and to help bring Egypt's vast potential for renewable energy to life."
In December 2014, Access was awarded the contract to build, own and operate the first solar power plant in Uganda, a 10 MWp solar photovoltaic facility in Soroti, Northeastern Uganda. Once complete, the plant will be the largest privately owned solar PV project in Africa excluding South Africa.
Access Power MEA ('Access') was founded in 2012 with the aim of becoming a leading developer of power assets in the Middle East and Africa. Access has assembled a development team with a track record of financially closing ~30 GW of power projects across the globe with a specific focus on the MEA region. Access is developing a portfolio of power assets in Africa through its subsidiary Access Infra Africa (AIA). Today, AIA is actively seeking the development of a portfolio of renewable energy projects in 15 Africa countries. AIA is technology agnostic and focuses on developing affordable and sustainable power assets.
For more information visit www.access-power.com
For more information please contact:
Grace Chaoui Finsbury
+971 55 632 9593
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