Egypt picks partners for 4.3GW renewables drive

Reports says NREA chairman Mohamed El Sobki made the announcement during a conference on Egypt’s renewables sector. The tender was said to be twice oversubscribed for solar projects.

The successful companies were chosen from 177 applicants which had applied for the feed-in-tariff. Out of the 67 companies, 40 are solar and the rest are wind.

The first power purchase agreements are likely to be awarded in the first half of 2015. Contracts will be offered for a 25-year term.

The Egyptian Ministry of Electricity and Energy has rolled-out feed-in tariffs for electricity generated by solar and wind, as part of the government’s efforts to increase the country’s energy capacity in the face of serious power shortages.