Solar Energy Companies Threaten to Withdraw from FiT

Solar Energy Companies Threaten to Withdraw from FiT

More energy companies could be withdrawing from phase one of the feed in tariff (FiT) program if the Ministry of Electricity  doesn’t respond to their financial and technical offers soon, El Borsa reported.

The Egyptian Electricity Transmission Company (EETC) had signed power purchase agreements and received offers for the project over 4 months ago. The Ismail cabinet is currently reviewing the offers but only 3 out of 9 companies have reportedly made the cut, according to ministry officials.

As for phase 2 of the FiT, the EETC has sent its contracts over to interested companies earlier this week and is expecting to receive confirmation of funding guarantees by April.

The project Manager of Desert Technology, Muhammad El-Dalie, said: ” The Company freeze IRC which  signed a power purchase agreement in the phase 1, until the ministry respond to the financial and technical offers made by other companies.”

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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