ACWA Power, a listed company in Saudi Arabia and active in the development of green energy projects, announced on August 30, 2023 the financial closing of the 200 MW Kom Ombo project, a solar power plant located in Egypt.

Kom Ombo is expected to be commercially operational in January 2024 with a total investment of $182 million, involving several financial institutions such as the EBRD, the OPEC Fund, among others. The company obtained a financial envelope of $123 million for the project in April 2023. This envelope consisted of $35.6 million in loans from the EBRD, $14.4 million from the OPEC Fund, $14.4 million from the, BAD $34.1 million from the GCF, $14.4 million from the Arab Bank, and $10 million from the SEFA.

Marco Arcelli, PDG d' ACWA Power , said that he was delighted to announce the financial closing É of the monumental Kom Ombo solar project in Egypt. According to him, their commitment to 'é renewable energy solutions allowed them to take this decisive step