By: Mohamed Mowafy
Cairo – Mubasher: Egypt’s Empower has obtained a preliminary approval for borrowing EGP 70 million to finance the establishment of Nubaria waste-to-energy plant, the company’s chairman Hatem El Gamal told Mubasher.
Building the plant will cost about EGP 100 million, 70% of which will be financed through a loan to be obtained from Banque Du Caire, while the remaining 30% will be self-financed by the company, El Gamal added.
At an output capacity of 24 megawatt (MW) a day, the plant will consume about 160 tonnes of waste per day, totaling around 58,500 tonnes annually.
Empower’s total investments in five waste-to-electricity plants have reached EGP 420 million.
It is noteworthy that Egypt’s ministry of electricity aims to raise the share of waste-to-energy and renewable energy sectors to 55% in total energy production by 2050.
Translated by: Zeinab Adel
