EETC Signed 3 FiT Deals

EETC Signed 3 FiT Deals

The Egyptian Electricity Transmission Company (EETC) signed three Feed-in-Tariff (FiT) phase I agreements with Nubian, ARC, and Irena with investments estimated at $250m and a production capacity of 125MW. The companies submitted the required documents of the energy agreements, according to the government’s conditions and controls of phase I, reported Daily News Egypt.

However , Canadian Solar requested to withdraw from the energy purchasing FiT program as it declared it does not with to proceed in either phase, informed Al Bora. Accordingly, the Canadian-Kuwaiti-Egyptian venture consisting of Canadian Solar, Consolidated Contractors Company (CCC) and PHC is seeking to receive the amounts paid to the New and Renewable Energy Authority (NREA).

It is noted that Nubian and ARC are affiliated with the Desert Technologies Company, which qualified among the 136 companies and alliances that applied for renewable energy projects. The firms will establish two solar power stations in Banban in Aswana production capacity of 50MW for each. Irena will establish another solar power station in the west Nile area, with a production capacity of 25MW.

Sarah Samir 3289 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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