egypt

Doubt has been cast on the International Finance Corporation’s (IFC) ‘Scaling Solar’ programme after a panel of investors revealed it could be fostering a race to the bottom for unrealistic tariffs, diverting focus from essential bankability.

The Feed-in-Tariff (FiT) for Egyptian solar power projects has fallen for 500kW-20MW projects and 20-50MW projects, according to an announcement by electricity minister Mohamed Shaker at a press conference on Tuesday.

A tender for a 200MW BOO (build-own-operate) PV plant project in Egypt has had its deadline extended by six months, in a move that the Middle East Solar Industries Association (MESIA) has said was “widely expected”.

Italy-based renewable energy firm TerniEnergia has won an EPC contract to build a 47MW solar farm in Egypt.

German solar developer Conergy is extending its presence in the Middle East and North Africa.

An agreement to work together on solar projects in Egypt has been signed by PV module manufacturer REC and a subsidiary of local telecoms company Orascom Telecom Media and Technology Holding” (OTMT).

Abu Dhabi’s renewable energy firm Masdar has launched four utility-scale clean energy projects as well as thousands of residential solar systems in remote areas across Egypt.

Martifer and its local partner in Egypt are proceeding with plans to develop a 25MW plant in the country.

The European Bank for Reconstruction and Development (EBRD) has allocated up to US$500 million in support of Egypt’s solar energy programme in 2016.

KRAFTWERK Renewable Power Solutions will open an office in Egypt after securing the development contract for a 50MW plant in the country.