Egypt’s ministry of power will offer tenders in the first quarter of 2018 for the development of solar power plants with a cumulative capacity of 500MW.
Sources at the ministry told Daily News Egypt, that Arab and international companies presented their offers to the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) to establish 100-200MW solar power plants.
However, investors were told to submit their bids as competitive tenders.
According to Daily News Egypt, sources said that tenders submitted will be through a Build, Own, Operate (BOO) scheme in Minya and Aswan.
Solar power expansion
In October, European solar power producer Scatec Solar and partners, announced the financial close for six solar photovoltaic (PV) power plants in the Benban solar park in Aswan in Upper Egypt.
Totalling 400MW at an estimated cost of $450 million, the six plants will offset around 350,000 tonnes of CO2 emissions per year, supporting Egypt's emission reduction targets under the Paris Climate Agreement.
Once completed, Benban will be the largest solar installation in the world with a planned total capacity of 1.8GW. Read more...
According to head of the NREA Mohamed El-Khayat, the country's feed-in-tariff projects contributed to a significant leap in the field of renewable energy in Egypt, and that energy projects in Egypt are attractive to investments in the current and coming period, Daily News Egypt reported.
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