Three companies have finalized their offers for the 50 MW Zaafarana solar plant tender, a source at the Ministry of Electricity told Amwal Al Ghad.

Power China, Sterling and Wilson, and Infinity Solar are the strongest competitors for the tender, according to the anonymous source.

Twenty-five companies have bought the application forms for the tender to submit them to the New and Renewable Energy Authority, which will start accepting the offers on June 24.

The bidding companies include EDF, Scatec Solar, a First Solar-Elsewedy Electric consortium, GDF, Masdar, and Sky Power, Enterprise reported.

The German KfW Development Bank will finance the project through a EUR 50 million loan, while DNVGL will offer the consultancy for the project.

The Zaafarana solar project is a part of the Ministry of Electricity’s plan to increase the share of renewable energy in Egypt’s energy mix. It plans to produce 20% of electricity from renewables in 2022.