Projects
- Solar
6 MW SRP Solar Project
Mowah developed the 6 MW Solar project through its subsidiary Nayyar International Renewable Energy Co. to supply electricity to the South Riyadh Project (SRP) on a long-term basis. The solar power plant is located within the vicinity of the SRP water treatment plant in Al Kharj, Saudi Arabia. The project is implemented under a stand-alone Independent Power Producer (IPP) model. A Power Purchase Agreement has been signed between Nayyar and Mowah for supply of electricity to the South Riyadh Water Treatment plant for 25 years generated from the solar plant. The scope of work includes development, obtaining permits, financing, designing & construction, testing & commissioning and O&M for 25 years. This project was financed through a loan from the Saudi Industrial Development Fund (SIDF).
- Solar
50 MW Solar Project – Rising Sun SAE SPV
Rising Sun SAE 50 MW Solar PV project is located in Benban, Egypt. This project was awarded Feed In Tarif (FIT) round II. The project entailed incorporation of a new LLC company (special purpose vehicle) which will develop the 50 MW solar project. The SPV signed a 25-year long term Power Purchase Agreement with the Egyptian Electricity Company (EETC). The project is backed by Ministry of Finance for payment guarantees. . The project reached financial close in Q3-2017 and started commercial operation in Q3-2019. The project is funded by International Financial Corporation (IFC) on a long-term non-recourse basis.
- Solar
50 MW Solar Project – Sun Rise SAE-SPV
Sun Rise SAE 50 MW Solar PV project is located in Benban, Egypt. This project was awarded as part of the Feed In Tarif (FIT) Round II. The new LLC company (special purpose vehicle) established to develop the 50 MW solar project signed a 25-year term Power Purchase Agreement (PPA) with the Egyptian Electricity Company (EETC). The project is backed by the Ministry of Finance for payment guarantees. The project reached financial close in Q3-2017 and started commercial operation in Q3-2019. The project is funded by International Financial Corporation (IFC) on a long-term non-recourse basis.