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Egypt looking for $2.5 bn in finance for 17 desalination plants

  • Egypt looking for $2.5 bn in finance for 17 desalination plants

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The Sovereign Wealth Fund of Egypt is looking into financial partnerships for up to $2.5 billion to build 17 new solar powered desalination plants, informs Utilities Middle East. The new plants are expected to provide a total of 2.8 million cubic meters of drinking water per day.

As the country suffers the impact of drought and fresh water becomes scarce, Egypt is looking into initiatives to increase the water supply. Water scarcity is expected to worsen after the  Grand Ethiopian Renaissance Dam is completed and reduces the flow of the Nile, Egypt’s primary water source.

A call for finance to local and international investors should be launched in 2022, according to Ayman Soliman, Director General of the Egypt Fund. The European Bank for Reconstruction and Development and International Finance Corp. will provide technical support and advice for the bidding process.

Using solar energy to power the plants will reduce the environmental impact of desalination, while reducing the operating costs of the facilities.

Currently there are 76 seawater desalination plants in Egypt, that supply 831,690 cubic metres per day. The plan is to build 67 more plants, in the governorates of Matrouh, Red Sea, North and South Sinai, Ismailiyah and Suez.

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