FAS Energy, Infinite, Elf Qualified for FiT Phase One

FAS Energy, Infinite, Elf Qualified for FiT Phase One

Egyptian Electricity Holding Company Chief, Gaber El Dessouky, announced that three companies out of  obtained the cut for phase one of the feed-in tariff (FiT) program, according to Al Borsa.

Law firm Riad & Riad legal advisor for FAS Energy announced the companies, namely: FAS Energy, Infinite, and Elf. The six developers who did not qualify for first phase have been moved to the second, which includes solar projects with capacities between 20-50 MW and a different financing structure.

Relevantly, the Egyptian Electricity Transmission Company formalized cost increases under the FiT cost-sharing agreement, raising it to EGP955k per MW from EGP583k per MW. Installments and payment schedule will be circulated by EETC soon and developers will be required to sign on the cost-sharing agreement amendments then, according to Riad & Riad.

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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