Electricity Minister to Address Investors Concerns on FiT Projects

Electricity Minister to Address Investors Concerns on FiT Projects

Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, will meet with renewable energy investors to discuss the solar energy projects that are planned to be processed in Benban area in Aswan, and address progress of the Feed-in-Tariff (FiT) projects that are lagging behind over investors’ concerns, reported Al Borsa.

The investors agreed upon five stipulations ahead of the meeting. They favor extending the timeline for financial closure, while also specifying a deadline for signing power purchase agreements. They raised concerns regarding the clarity and transparency of governmental relations requesting that they are informed of the terms and conditions for the second phase of the FiT projects. Finally, they seek clarity on the government’s firm position regarding the use of a domestic regulatory body for arbitration.

Furthermore, the FiT supervisory committee’s report will be presented to Shaker before the meeting. The report displays the ministry’s negotiations with international funding institutes as well as Benban’s power plants details.

Sarah Samir 3288 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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