The plant will produce 150 megawatts
The Iberdrola Engineering group will sign a contract next Sunday in Cairo for the construction of a combined cycle power plant (thermal and solar energy) in northern Egypt, near the Mediterranean coast, company sources reported.
The contract will be signed at the Egyptian Ministry of Energy and Electricity.
José Oriol, director of Development and Business at Iberdrola Energía, explained to Efe that the plant will produce 150 megawatts, 30 of them solar and 120 thermal.
These 120 thermal megawatts - generated by a gas turbine and a steam turbine - are the ones awarded to the Spanish company, while the solar part has another contractor.
According to information obtained by Efe from other sources familiar with the project, the contract is worth $145 million.
Oriol explained that the Iberdrola project will last about two and a half years, and will require the relocation of about ten people from Spain, the project's management team.
For Iberdrola, the project - whose negotiation has lasted eight months - is doubly novel: first, because it is their first contract signed in Egypt; second, and this is more important, because it is the first time they have integrated solar energy into a combined cycle plant.
With this plant, Spanish companies are diversifying their presence in the Egyptian energy sector, as the project joins the Union Fenosa natural gas liquefaction plant in Damietta (north coast) and the future wind farm that Gamesa will build on the east coast, which will make it the country's largest wind energy supplier.
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