ACWA POWER SIGNS AN ENGINEERING, PROCUREMENT AND CONSTRUCTION CONTRACT WITH CHINT GROUP TO BUILD THREE PHOTOVOLTAIC PROJECTS IN EGYPT WITH A TOTAL CAPACITY OF 165.5MW

• The projects that ACWA Power will implement in cooperation with the Chinese Chint Group in Benban are part of the Feed-in-Tariff Program in Egypt

January 16, 2018: ACWA Power, the leading developer of power and water desalination projects, announced that it has awarded an EPC contract to China’s Chint Group for three solar photovoltaic power plants at Benban, Egypt within the Feed-in-Tariff program. The contract was signed today during the World Future Energy Summit in Abu Dhabi.

The total project value with the Engineering, Procurement and Construction (EPC) contract for the three projects is approximately US$190 million, and the total production capacity will reach 165.5MW. These three projects contribute to supporting the Egyptian government's endeavor to obtain 20% of the electricity generated from renewable energy sources by 2022, which was set by the government and the Ministry of Electricity and Renewable Energy in Egypt.

The plants, which are located in the Aswan Province in Benban, will have capacity to generate 67.5MW, 70MW and 28MW individually. Construction of the plants will commence in Q1 2018, and once the project construction is complete in Q4 2018, The three plants will be providing power to 80,000 houses while saving around 156,000 tons of CO2 a year.

With energy demand in Egypt growing by 28% in recent years, the Benban PV plant will be a key component of the government efforts to meet the country's growing energy needs through renewable resources, in addition to meeting Egypt's vision of 2022 and 2030.