Egypt Expanded in Renewable Energy

Egypt Expanded in Renewable Energy

The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, stated that the Egyptian electricity sector launched 3 new renewable energy tenders under the build, own, and operate (BOO) system. The tenders are for plants to produce 250MW from wind farms, 200MW from photovoltaic, and 100MW from solar concentrators. The projects will be established on land owned by the New and Renewable Energy Authority (NREA) located West of the Nile, reported Al Wattan News.

Shaker’s comments came during the opening speech of a workshop titled “Solar Concentrators Today”. Additionally, in a separate report but Al Wattan News, Shaker said that the Egyptian Electricity Transmission Company (EETC) signed energy purchasing agreements  for solar energy projects under the terms of phase I of the country’s Feed-in-Tariff (FiT) program. EETC signed these deals with potential companies that submitted their financial closure.

Furthermore, the government secured land for 8 companies in areas owned by NREA in Benban and West of the Nile.

In related news, Egypt Oil and Gas reported earlier that the ministry had asked for $8.5m guarantees from each company in the first phase of renewable energy purchasing Feed-in Tariff (FiT) program. Companies were required to finalize documentation and procedures within 10 working days from presenting their financial closure. Accordingly, EETC will respond to the solar energy companies with an approval or declining during December.

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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