Sharm ElSheikh Solar Grid

Objective

Energy production for new tourist area of Nabq

Description

"Owner: TAQA Arabia (Egypt) Capacity: 20 MW Location: Nabq Bay, Sharm El Sheikh Status: Started operations in October 2022. The EGP 250 million (USD 8.1 million) solar power plant can generate 42 GWh annually, enough electricity to power 6,000 hotel rooms. The plant is expected to supply 30% of the power load for the Nabq tourist zone."

History

The military owns 20% of the stake. This investment sparked more solar investments in the area including Hassan Allam Utilities PV plan (5MW). These were all commissioned and completed prior to COP27 and also feed the Sharm ElSheikh grid.

Finance