Renewable energy entity studies 6 offers for 250MW solar plant

CAIRO – 30 August 2017: The government’s New and Renewable Energy Authority (NREA) has reportedly launched a tender to build a 250MW solar plant in the Gulf of Suez, a according to a statement from NREA on Tuesday.

NREA’s head Mohamed el-Khayat said that they are currently studying offers made by six firms.

Several solar power plants are scheduled to be built under the government’s feed-in-tariff (FiT) scheme, which will involve private sector companies building solar plants in Aswan, Minya and the Gulf of Suez.

The scheme, put forward by Minister of Electricity Mohamed Shaker, eyes generating 20 percent of Egypt’s energy supply from renewable energy resources by 2022.

Implemented over two rounds, the first round of the scheme witnessed three developers pursuing their projects at Benban city in Aswan. Saudi Arabian group Fawaz Alhokair’s FAS Energy, ELF and Infinity Solar have already started construction works at the site.

In July, the International Finance Corporation (IFC) approved $660 million in funding to 11 FiT projects in Benban, near Aswan, according to an International Cooperation Ministry statement. These projects are worth a total of $730 million and have a total capacity of 500MW.

The European Bank for Reconstruction and Development (EBRD) is also expected to finance a total of 16 solar projects in Egypt at a total capacity of 750MW. It pledged $500 million in funding framework for the FiT project.