MoU opens doors for Abengoa’s involvement in CSP PV projects in Egypt

May 1 – Abengoa SA (BME:ABG) has made a key step towards the development of CSP and PV projects in Egypt with the signing of a Memorandum of Understanding (MoU) with the country’s New and Renewable Energy Authority (NREA).

The MoU, struck on Thursday, defines the terms of cooperation in renewable energy projects in Egypt, Abengoa said in a statement, without revealing specific plans.

The deal aims at initiating a commercial and technical relationship between the Spain-based energy and environmental technology company, NREA and the Egyptian Electricity Transmission Company (EETC). That relationship will involve “technology cooperation and local value creation” relating to concentrating solar power (CSP) and photovoltaic (PV) projects.

Abengoa said it has already carried out various studies to evaluate the potential of solar technologies to contribute to the local security of supply and Egypt’s economic development.

The Spanish company has installed 1.6 GW of solar parks globally and has 320 MW under construction.

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