The Egyptian Electricity Transmission Company (EETC) will launch a tender by the end of January for global firms to establish 500 MW solar power plants. During tender, the companies will make a presentation on their previous experience in the field in order for EETC to select the tender winner, official sources at the Ministry of Electricity and Renewable Energy told Almal News .

The solar plants tender is set to be in Aswan and Minya, under the terms of Build, Own, Operate (BOO) system, as EETC will buy the generated power based on Power Purchase Agreement (PPA).

Additionally, the Ministry of Finance was reported to issue earlier in January letters of guarantee for 30 solar energy firms under the terms of phase II of the Feed-in-Tariff (FiT) program, governmental sources told Al Borsa.

The letters were considered official guarantees to investors to ensure that the country is committed to pay their dues in case the EETC was unable to pay them. Letters of guarantees are issued for projects launched by the government and operated by the private sector.