The European Bank for Reconstruction and Development (EBRD) and French financial company Proparco are set to help Egypt make major strides in the development of its renewable-energy sector.
Mondragon Assembly Solar, a division of Spain-based Mondragon Assembly Group has secured multiple new turnkey assembly and automated assembly equipment orders from Algeria, Egypt, and China in June.
Saudi Arabia’s Alfanar Energy has signed a PPA with the Egyptian Electricity Transmission Company (EETC) for the development of a 50MW solar plant in Egypt, according to local reports.
Egyptian renewable energy provider Infinity Solar and Germany’s ib vogt and Solizer have reached financial close on a 64.1MW solar PV plant under round one of Egypt’s Feed-in Tariff (FiT) programme.
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”.
