Qalaa to sell electricity of Benben Project to government in Feb.
Qalaa expected in a statement to start selling its production to the Egyptian Electricity Transmission Co. (EETC) during the current month, Feb.
The productive capacity of the project, which comes in partnership with Hassan Allam, amounts to 65 megawatts with investment costs of around LE 1.35 billion, according to the statement.
The statement read that the project is following the second phase of feed in tariff agreement and contributes in diversification of electric power sources and eliminates pollution.
Qalaa Holdings' subsidiary, Taqaa Arabia, owns 60 percent of the solar power project, while Hassan Allam holds 40 percent of the project.
Qalaa Holdings owns directly and indirectly 60.92 percent of Taqaa Arabia.
In August, Qalaa Holdings announced its first investment in generating solar energy through its subsidiary, Taqaa Arabia, in partnership with Hassan Allam Holdings through photovoltaic (PV) cells, at an investment cost of LE 1.35 billion.
CAIRO - 28August 2018: Qalaa Holdings announced Monday its first investment in generating solar energy through its subsidiary, Taqaa Arabia, in partnership with Hassan Allam Holdings through photovoltaic (PV) cells, at an investment cost of LE 1.35 billion.
Founded in 2004, Qalaa Holdings operates within the diversified financial sector focusing on asset management and custody banks. It has companies operating across North America, the Caribbean, Northern Africa and Eastern Africa.
Hassan Allam Company works in the field of engineering, procurement & construction, building materials and utilities.