DNV GL hosted today a briefing on behalf of the Egyptian New and Renewable Energy Authority (NREA) and the Egyptian Electric Utility and Consumer Protection Regulatory Agency for all pre-qualified bidders and successful renewable project developers, on the latest Egyptian Renewable Energy FIT Program in Cairo. The briefing will announce the latest details of the planned program of government-backed renewable energy projects in Egypt, including necessary investment criteria, corporate structuring and technical data, Power Purchase Agreement (PPA) terms and timelines.
“The Egyptian market is on the brink of some industry changing renewables projects right now. By helping to develop projects in the region and demonstrating the success they can achieve we are helping Egypt to reduce its dependency on foreign imports by providing new sources of power,” explains Sliman Abu Amara, DNV GL Area Manager, Africa.
DNV GL has also worked with NREA in previously providing a feasibility study on Kom Ombo, the largest PV solar project in the Egyptian desert. At present, DNV GL is working with the Egyptian Electricity Transmission Company (EETC) and the Egyptian Power System supporting the management of wind power integration projects. A project that is funded by the World Bank and is due to be completed in September of this year.
Source: DNV GL