TAQA Arabia and Somabay inaugurated Egypt's largest desalination plant powered entirely by solar energy, according to a bourse disclosure on December 11th.

The first phase of the joint plant has a daily capacity of 3,650 cubic meters, providing a sustainable supply of safe water to meet the resort's needs.

Moreover, the two entities signed a contract for the project's second phase to add another 3,650 cubic meters of daily production capacity, with completion scheduled within six months.

Once both phases are complete, Somabay's renewable energy capacity will reach 7.5 megawatts of electricity and 7,300 cubic meters of water daily.

Commenting on the signing, Pakinam Kafafi, CEO of TAQA Arabia, said: “We provide and manage tailor-made solutions with diverse production capacities to meet our customers’ needs.”

Ibrahim El Missiri, CEO of Abu Soma Touristic Development Company, stated: “This partnership builds on our longstanding collaboration to strengthen our footprint in the sustainability sector.”

“Through these collaborations, we aim to expand our portfolio and actively contribute to the state’s strategy in this vital field,” El Missiri highlighted.

In February 2024, TAQA Arabia and Somabay fostered their cooperation by signing a deal to deliver natural gas through pipelines developed by TAQA GAS.

At the end of September 2024, the EGX-listed firm’s consolidated net profits after tax and non-controlling interest hiked by 16.41% year-on-year (YoY) to EGP 424.871 million.

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