UAE firm Masdar and ACWA Power out of Saudi Arabia will be submitting an offer to the Egyptian government on a renewable project. The pair are currently working on an official offer for the Ministry of Electricity for projects that will add 2,000 MW of capacity to the Egyptian power grid. According to a report in the Daily News Egypt the projects include 1,500 MW in solar energy and another 500 MW in wind energy. These projects are part of the agreements and memoranda of understanding (MoUs) signed during the Economic Summit held in Sharm El-Sheikh in March 2015. The financial closing is expected to be completed six months after signing the agreement to buy energy.
