Egypt to Sign FiT Phase I PPAs

Egypt to Sign FiT Phase I PPAs

The Egyptian Ministry of Electricity is ready to sign power purchasing agreements (PPA) under the terms of phase I of the country’s Feed-in Tariff (FiT) program. Accordingly, the ministry has invited 8 companies to sign within 10 days, reported Al Borsa.

The Egyptian Electricity Holding Company has sent signing invitation letters to domestic and international firms that have declared their readiness with required funds, reported Al Mal News. Some of the companies included in the correspondence are Scatec Solar, Wadi Degla, Infinity, the International Renewable Energy Agency (IRENA), Mag Company, Dalma Energy, Alpha Energy, and FAS Energy.

In related news, a source in the ministry announced that the FiT Assigned Committee has finished studying the documents of six companies that met all conditions and had finished financial closures for the development of solar power plants in Benban Aswan, with two companies still completing necessary documentation. Furthermore, Egypt Oil&Gas reported earlier that Egyptian Prime Minister, Sherif Ismail, had announced that the launch of phase II of the solar power purchasing FiT program would be on October 28th, at which date new tariffs will be implemented.

Sarah Samir 3297 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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