Future expansions (Renewable Energy)
Owing to its clean technologies, constant replenishment, lower costs and safer effect on the environment TAQA Arabia Group has embarked on investing in renewable energy, the energy source of the future, with full speed ahead.
Renewable energy is not affected by the supply and demand of fuel and so is not subject to price volatility, which makes it a more dependable and cost-effective source of energy.
The group is currently undergoing various feasibility studies to assess energy generation projects that will pave the way for it to become the leading solar energy producer in Egypt with extended generation activities in the MENA region and beyond.
MEDGRID
TAQA Arabia Group finalized an agreement with the MEDGRID initiative to become the 13th partner of leading European energy organizations to carry clean renewable energy from North Africa to Europe.
The three year initiative, that is part of the Mediterranean Solar Plan (MSP) is dedicated to studying the feasibility of the power transfer and promote the cooperation in the design and engineering of the power system that will eventually transfer 20 GW of power between the northern and southern shores of the Mediterranean by 2020.
Europe is to receive 5 GW through a trans-Mediterranean electrical system and new interconnection infrastructures using high and extra-high voltage submarine cable systems operated in direct current. If proven feasible, the project will bring tremendous benefit to Egypt and will create vast profitable opportunities for the group.
Concentrated Solar Power (CSP) Plant
TAQA Arabia Group signed a US$ 603,970 grant agreement with the United States Trade and Development Agency (USTDA) to conduct a feasibility study to evaluate the commercial and technical viability and asses the environmental impact of establishing a 250MW CSP plant using solar tower technology in Upper Egypt, which upon success can be expanded to 1,000MW. The study will also determine the socio-economic and developmental implications of the plant on the Egyptian society, which if approved will create thousands of jobs and generate 875,000 MWh of carbon free electricity in phase one
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