In cooperation with its long-term partner OAK, WTEI has completed the feasibility study for the first WTE plant in Egypt. Previously, we reported that WTEI entered a consortium for waste to energy projects. Later in August 2020, the feasibility study started to prepare the project for funding.
With a particular focus on the development of Concession Agreement (CA), Power Purchase Agreement (PPA) and Financial Model, such documentation represents an intellectual platform for current and future opportunities.
On October, 25th, we have received an official letter from the Management Regulatory Agency (WMRA) of Egypt. WMRA is a division of the Egyptian Ministry of Environment. The letters confirms that WTEI consortium is prequalified as a company to create a waste-to-energy plant in Egypt.
Recently performed meeting with ministers in Egypt supported current development of the waste-to-energy project near Cairo. On Sunday, 06 September 2020, Minister of Military Production and Minister of Environment met local developer of our Consortium, Green Tech Egypt company (GTE).
Ministry of Environment plays the role of the supervisor for waste management system in Egypt. Ministry of Military Production supports the project by involving local industrial enterprises. In other words, such local enterprises to produce part of the plant equipment: conveyors, electrical equipment, fittings etc.
Both ministers and their key specialists listened to the presentation created by Waste to Energy International (WTEI). Green Tech Egypt company owner conducted the presentation. He showed proposed technology, commercial and financial project structuring. Also, presentation explained how the project can help Egypt to solve current waste utilisation problem.
Waste to Energy International (WTEI) builds relationships with partners on a long-term basis. Now, using such a long-term relationships, WTEI forms Consortium for Waste to Energy Projects in Egypt.
For more that 10 years, WTEI cooperates with OAK Group Holdings (OAK). Founder of OAK is ex-commercial director of Veolia for Middle East and North Africa (MENA), with excellent experience in the industry. OAK Group Holdings provides financial advises and investments into alternative energy industry. Also, group has very strong project portfolio, and huge track of investments.
3 years ago WTEI started cooperation with Green Tech Egypt (GTE), a company active in Egypt. GTE constructed first waste sorting facility in the country, and has excellent local connections.
Following the demand to create a new waste-to-energy plant in Egypt, WTEI formed the Consortium with OAK and GTE. The Consortium for Waste to Energy projects in Egypt aims to invest, build, and operate at least one plant, near Cairo. After that, the plant shall utilise 350,000 ton of municipal solid waste (MSW) per annum and produce 20-25 MW of electricity.