Independent power company Globeleq has sealed the deal on acquiring a substantial 48.3% equity stake in Egypt’s 25 MW Winnergy solar photovoltaic (PV) plant. The acquisition, completed from Enerray, Enerray Global Solar Opportunities, and Desert Technologies, marks a significant move within Egypt’s burgeoning renewable energy sector.
Situated within Egypt’s prominent Benban Solar complex near Aswan, Winnergy operates adjacent to Globeleq’s established 66 MW ARC solar plant, amplifying the company’s presence and commitment to Egypt’s energy landscape.
Globeleq CEO Mike Scholey emphasized the company’s enduring dedication to Egypt, backed by a two-decade investment history. He expressed optimism about Winnergy’s integration into their existing portfolio, envisioning synergies across various sectors including green hydrogen, ammonia, solar, wind, and desalination.
Winnergy’s inception traces back to the second round of Egypt’s feed-in-tariff program. Since commencing operations in 2019, it has contributed approximately 58 GWh/y of clean electricity to the Egyptian Electricity and Transmission Company, under a 25-year power purchase agreement. This translates to averting around 30,000 t/y of carbon dioxide emissions annually, marking a significant environmental impact.
GILA Altawakol Electric, an Egyptian stalwart in electrical engineering and services, remains a key co-shareholder and operations and maintenance contractor for the Winnergy plant. Globeleq and Altawakol, having collaborated since 2019, reaffirmed their commitment to joint asset management and plant operations.
Amr Tawakol, chairperson of GILA Altawakol Electric, expressed enthusiasm about the partnership with Globeleq, underscoring their shared vision for decarbonization and the optimization of Winnergy’s performance within Egypt’s renewable energy landscape.