Meed | Bahrain and Egypt investors sign $120m waste-to-energy deal

Bahrain and Egypt investors sign $120m waste-to-energy deal

11 April 2023

Egyptian authorities have signed contracts for the country’s first waste-to-energy (WTE) plant to be located in Abu Rawash in Giza.

The consortium that will develop the project, Renergy Group, consists of the National Organisation for Military Production (MOMP), Green Tech Egypt and Bahrain-headquartered OAK Holdings.

The proposed power plant will process 1,200 tonnes a day of household waste to generate 30MW of electricity.

The project will be implemented using a design-build-own-operate model, and will require an investment of roughly $120m.

The plant will operate for 25 years, after which the asset’s ownership will be transferred to the Giza Governorate.

Egypt Environment Minister Yasmine Fouad said: “‘The project is the result of a long journey of partnerships and decisions that support investment in converting waste into electricity in collaboration with the private sector with a total investment of $120m.”

Robert Valk, CEO of Renergy Group Partners, noted the economic and environmental benefits of the project.

In addition to the estimated $120m in foreign investments, the developer team has committed to awarding approximately 40 per cent of the contracts to Egyptian companies.

MEED understands the plant will use equipment produced by the Ministry of Military Production’s factories.

The proposed power plant will also accommodate Egyptian university students who will carry out scientific research on converting waste into electricity.

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Jennifer Aguinaldo