Electricity Ministry to Discuss FiT Phase 2 with Investors

Electricity Ministry to Discuss FiT Phase 2 with Investors

An official source at the Egyptian Electricity Ministry said that the renewable energy companies in the second phase of the Feed-in Tariff (FiT) program are set to discuss with the ministry the payment schedule for the companies’ projects, and the exchange rate at which they will be paid, Al Borsa informed.

The discussion may also include the possibility of raising FiT, which some solar companies have been calling for in light of increased construction costs following the EGP floating.

Thirty one companies are contributing to Phase II of the energy purchasing (FiT) program with investments of $3b to build solar and wind power plants with the capacity of 1,845 MW.

Only 23 out of the 31 companies plan to construct solar power plants with 1,295 MW capacities that will be divided into 970 MW from Benban plants, 180 MW from El-Zafarana, and 145 MW from the power plants located in the West Nile areas. Additionally, the remaining eight companies aim to establish wind farms in the Gulf of Suez with a total capacity of 550 MW.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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