Some 10 global firms operating in alternative energy have put in requests to obtain licensing to run renewable energy projects in Egypt, the head of Electric Utility and Consumer Protection Regulatory Agency Dr. Hafez Salamawy said.

There are 9 firms operating solar power and one company working in wind energy, he explained, adding the ten firms have been founded at total capitals of EGP 150mn to be raised to EGP 1.5bn upon completing the projects.

The applying companies will carry out 10 renewable energy projects, with total capacity of 500 MW, of which 9 solar power projects with total capacity of 450 MW will be implemented in Aswan province, while the 50 MW wind energy project will be executed in Suez Gulf, Salamawy said, adding the supreme council for energy was to hold a meeting to decide on grating licensing, but the meeting has been postponed to next month.

According to an official at Egypt’s renewable energy agency, the lands allocated for alternative energy projects are provided with utilities, adding no firm that has got lands has paid the fees of being linked with the national grid so far because the alternative energy purchase agreements have not signed with those investors.

Source: Al Mal