Domestic and foreign companies are expected to invest a combined USD 6 billion (EUR 5.1bn) in Egypt by participating in the first phase of a 4,000-MW renewable energy programme.
This was confirmed by the country’s minister of electricity Mohamed Shaker at a press conference. He announced, as cited by news provider Mubasher.info, that out of 187 bidding consortia 100 have qualified to install solar power plants.
This includes 87 groups that will build solar parks of over 20 MW in capacity. Furthermore, 36 consortia will construct 20-MW-plus wind farms.
The bidders submitted their offers by the end of November 2014. A total of 42 local companies have been picked, with 32 of them to work on solar projects and the remaining 10 on wind schemes. Meanwhile, the foreign players come from all over Europe, North America, Asia and even Africa.
In September, Egypt set feed-in tariffs (FiTs) of between EGP 0.84 (USD 0.117/EUR 0.099) and EGP 1.025 per kWh for solar power, as reported by the Daily News Egypt. The move is aimed at attracting investments in the private sector into 4,300 MW of solar and wind capacity. The country’s goal is for renewables to account for 20% of the country’s total power mix by 2020.
SeeNews Renewables | January 7, 2015