Acwa Power Egypt, a leading solar energy company, is vying to win contract for building a mega solar generator with 200 megawatt capacity in Aswan's Kom Embo.
Acwa Power Egypt submitted a competitive bid with a price of 2.752 cent per hour, the lowest as compared with rivals.
"The company has ambitious plan for participating in mega solar generations projects nationwide in line with Ministry of Electricity's strategy for boosting renewable energy production to 20% of total power output produced by 2020," said the regional manager of APE.
Kom Ambo project is included among Ministry of Electricity's five-year plan 2012-2017 eliciting the private sector participation in implementing 67% of projects for the generation of 3500 megawatt.
"The privately-owned companies help the state secure financing, building and operating power generators in addition to selling electricity and conducting maintenance projects, saving up large financial burdens and appropriations used in setting up new power generators," said he.
Bidders including El-Sewedi-EDF Cosortium, Marubeni, Actis-Enerpol Consortium, Scatec, Orascom-Engie Consortium and FRV have proposed the prices of 3.15 cents, 3.517 cents per Kilowatt, 5.045 cents, 3.4034 cents and 2.791 cent.