EETC to Collect 3rd Aswan Solar Energy Installment

EETC to Collect 3rd Aswan Solar Energy Installment

The Egyptian Electricity Transmission Company (EETC) has addressed the solar energy companies’ investors in Aswan to pay the third installment of the EGP 10m cost-sharing agreement that links the solar power plants with the national electricity grid and the infrastructure of Benban area, before the beginning of July 2016, reported Daily News Egypt.

A source added that the Head of Cairo Solar Company, Hisham Tawfik, is surprised by how the ministry insists on collecting the third installment of the agreement, while the projects’ fates remain unclear due to the fact that the international financial institutions have dropped their funding for the projects. He recommended that the officials meet the investors to reach appropriate solutions for all the parties involved with these projects.

Al Borsa News reported Tawfik as saying that the investors have been trying to meet the Minister of Electricity in order to explain the current situation and discuss the possible solutions that would resume the operations of these projects, but have not been successful.

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