Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Egypt's SCZONE welcomes Zhejiang Province delegation for trade talks    Beltone Venture Capital partners with Citadel International to manage $30m startup fund    S. Africa to use contingency reserves to tackle debt    Gaza health authorities urge action for cancer, chronic disease patients    Transport Minister discusses progress on supplying new railway carriages with Hungarian company    Egypt's local gold prices see minor rise on April 18th    Expired US license impacts Venezuela crude exports    Taiwan's TSMC profit ups in Q1    Yen Rises, dollar retreats as G7 eyes currency calm    Egypt, Bahrain vow joint action to end Gaza crisis    Egypt looks forward to mobilising sustainable finance for Africa's public health: Finance Minister    Egypt's Ministry of Health initiates 90 free medical convoys    Egypt, Serbia leaders vow to bolster ties, discuss Mideast, Ukraine crises    Singapore leads $5b initiative for Asian climate projects    Karim Gabr inaugurates 7th International Conference of BUE's Faculty of Media    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    Eid in Egypt: A Journey through Time and Tradition    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Tourism Minister inspects Grand Egyptian Museum, Giza Pyramids    Egypt's healthcare sector burgeoning with opportunities for investors – minister    Egypt starts construction of groundwater drinking water stations in South Sudan    Russians in Egypt vote in Presidential Election    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Egypt's powerhouse 'The Tank' Hamed Khallaf secures back-to-back gold at World Cup Weightlifting Championship"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    Egypt builds 8 groundwater stations in S. Sudan    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Empower partnering with BM Financial Leasing to realise $250m plants to produce energy from waste
Company is first business to sell electricity to government from waste recycling
Mohamed Farag Published in Daily News Egypt on 29 - 01 - 2019

Empower has signed an agreement with BM Financial Leasing and a group of investors to launch projects to produce electricity from waste in Egypt with investments worth $250m.
Chairperson of the company Hatem El-Gamal told Daily News Egypt that Empower plans to launch 36 waste power plants and agreed with BM Financial Leasing Company to finance 70% of the planned projects investments worth $250m, along with participations in investments by businesspersons Hatem Bayoumi and Ahmad Al-Nagar.
He added that the company aims to launch plants for the production of electricity from waste for the benefit of the factories with the ‘net measurement' and ‘independent producer' IPP, which sells energy directly to consumers.
Furthermore, he said that Empower laid the foundation stone on Monday for the implementation of a plant to generate energy from food waste with a capacity of 1MW and at a cost of $4m in New Salhiya in the province of Sharkiya.
He pointed out that the company signed special contracts to buy the power produced from the station with the North Delta Electricity Distribution Company to sell each kW at 103 piasters until a tariff is issued.
Moreover, he added that the company will start construction work to inaugurate the plant within days, and will start operating the project at full production capacity of 24MW/H in the first quarter of the coming year.
El-Gamal explained that the company obtained the land of that station through a tender submitted by the New Urban Communities Authority several months ago in Ismailia.
The total contracts signed by Empower to sell the energy produced reached 5MW with electricity distribution companies in North Delta, Behira, and the Canal area. Two power plants are now under constructions with a capacity of 2MW.
Empower is the first company to sell electricity to the government from waste recycling. It produced electric power up to 30 MW through its Biogas plant in Kafr El-Sheikh governorate. It received a cheque worth EGP 300,000 from the North Delta Electricity Distribution Company.

Clic here to read the story from its source.