TAQA Arabia to Diversify into Solar Energy
Production with 250MW CSP Plant

TAQA Arabia achieved a major milestone towards its objective to become a leading solar power producer in Egypt with the announcement of a U.S. government grant.

At the MENA Power conference today, the United States Trade and Development Agency (USTDA) signed an agreement for the provision of a US$ 600,000 grant for a feasibility study regarding a 250MW concentrated solar power (CSP) plant using solar tower technology.

The feasibility study will evaluate the commercial and technical viability of the proposed CSP plant to be established in Upper Egypt. “Solar power will contribute to the growth of the company and the management firmly believes that they should take advantage of Egypt’s unique geographical position to become a leader in clean energy production”, stated Khaled Abubakr CEO of TAQA Arabia. An important aspect of the feasibility study is the determination of the tariff required to ensure the project is bankable.

In case of positive and encouraging results,TAQA Arabia will enlarge the project to reach 1,000MW in the future.

As with all USTDA grants, the feasibility study will also assess the environmental impact of the project and the socio-economic and development implications to the Egyptian society. If proven viable, the project is expected to create thousands of jobs and is anticipated to produce in its intial phase 875,000 MWh of carbon free electricity while also displacing fuel imports. Concentrated solar technology will stimulate local manufacturing of components, creating jobs and contributing to the local economy.

TAQA Arabia is a subsidiary of Citadel Capital, the Middle East’s leading private equity company. TAQA Arabia is a full-service energy distribution group operating in six countries in the region; Egypt, Libya, Qatar, UAE, Syria & Jordan with activities ranging from energy engineering and contracting to operation and maintenance. Through its 22 companies TAQA Arabia is delivering its services by three clear operating arms; fuel marketing & storage, power generation & distribution as well as gas transmission & distribution.