Egypt solar energy project wins "Energy Transition Deal of the Year" award

Egypt’s Kom Ombo Solar Project has won recognition as “Energy Transition Deal of the Year” at the latest IJGlobal Awards, held in London in  March. The 200 MW plant, Egypt’s largest private solar plant, is expected to to make a significant contribution towards Egypt’s target of generating 42 percent of its electricity from renewable sources by 2035 and serve  more than 130,000 households.

Additionally, the project aims to provide one of the lowest generation tariffs in Africa. It is constructed and operated by Saudi firm ACWA Power and backed by financiers including the OPEC Fund, EBRD, AfDB, Green Climate Fund, Arab Bank and Arab Energy Fund. 

Selected by an independent panel of industry experts, the IFGlobal Awards “recognise landmark developments and the organisations that contributed to the delivery of greenfield projects in the infrastructure and energy space, as well as refinance activity.”

Tareq Alnassar, OPEC Fund Vice President, Private Sector said:

“The Kom Ombo project represents an important milestone in Egypt’s ambition to increase its renewable energy capacity and is a prime example of the importance of stakeholder cooperation across the private and public sector.”

Previously, Kom Ombo won “Solar Deal of the Year 2021” at the Uxolo Development Finance Awards, announced in August 2022. IJGlobal provides data and analysis about the international infrastructure and energy markets, whereas Uxolo is a B2B market intelligence provider in the development and impact finance sector.