Egypt’s New and Renewable Energy Authority (NREA) has qualified five companies in the tenders to set up a power plant in Kom Ombo in Aswan with a capacity of 20 MW, in cooperation with the Agence Francaise De Developpement (AFD).

The winning companies include Sterling and Wilson, TBEA Energy, and Shanghai Electric, along with a Spanish company and an Egyptian company, Daily News Egypt reported, citing sources at NREA.

According to sources, NREA will ask for the technical and financial offers from the five shortlisted companies next month.

NREA had agreed with DNV KEMA and ERCC to prepare the technical and economic studies, as well as assess the project’s impact on the environment.

The sources pointed out that AFD will provide a loan of €40 million ($42.8 million) to finance the project.

The funding includes rehabilitation of infrastructure and a contract for the operation and maintenance of the plant for three years, as well as a training programme.

The project consists of photovoltaic cells that convert solar light into direct current, as well as inverters that convert direct current into alternate current.