Today, global resource and independent energy experts DNV GL is hosting a briefing for all pre-qualified bidders and successful renewable project developers on the latest Egyptian Renewable Energy FIT Programme in Cairo.
The briefing will be held together with British law firm Eversheds, the International Finance Corporation (IFC) of the World Bank Group, the European Bank for Reconstruction and Development (EBRD), global management consulting firm Apricum, and Egyptian Shahid Law Firm.
Presenting on behalf of the Egyptian New and Renewable Energy Authority (NREA) and the Egyptian Electric Utility and Consumer Protection Regulatory Agency, the briefing will highlight the most recent details of the structured programme of government-backed renewable energy projects in the country including:
- necessary investment criteria
- corporate structuring and technical data
- Power Purchase Agreement terms and timelines
Sliman Abu Amara, DNV GL Area Manager, Africa commented: “The Egyptian market is on the brink of some industry changing renewables projects right now. By helping to develop projects in the region and demonstrating the success they can achieve we are helping Egypt to reduce its dependency on foreign imports by providing new sources of power.”
Working with the Egyptian power sector
DNV GL is currently involved in several projects within Middle Eastern and North African (MENA) regions. One in particular includes supplying advisory services to support the management of wind power integration projects in the Egyptian Power System with the Egyptian Electricity Transmission Company (EETC) and funded by the World Bank, DNV GL said in a company statement.
The wind project first began in June 2014 and is expected to reach completion in September 2015 where DNV GL will provide a full assessment of the power system, grid code and wind integration impacts as well as guidelines and procedures for improved operational dispatch techniques, DNV GL explained.
Abu Amara explains: “Egypt’s huge potential is evident through our previous work with NREA and the French development agency (AFD). Removing the barriers to both solar and wind energy adoption is essential to strengthen Egypt’s local energy production. By combining in-country expertise and local offices we are well-positioned to support the African market and provide a combination of both technical expertise and knowhow of international standards.”
Vision for a cleaner, greener energy industry
DNV GL is devoted to the energy transition within the MENA region in addition to expand sustainable electrification of Sub-Saharan Africa.
DNV GL claims that: “This will see the widespread adoption of additional smarter, safer and cleaner supply technologies such as smart grids, CHP plants and energy storage solutions to create a more efficient and effective electricity supply infrastructure, capable of dealing flexibly with inputs from variable sources.”