Tender for 600 MW solar projects released in Egypt
This article is part of a daily series of IPP articles. If you want to know more about the latest power generation projects globally visit our IPP Today section. You can receive them by email on a daily basis.
Egypt's Ministry of Electricity and Renewable Energy and the Egyptian Electricity Transmission Company (EETC) have released a tender for 600 MW of solar photovoltaic (PV) capacity.
The projects will be developed under a build, own, operate (BOO) scheme and will be located in the West of Nile area.
Through a request for prequalification, issued last week, EETC is seeking experienced developers and investors to design, finance, construct, own and operate the capacity. The electricity generated will be purchased by EETC under a power purchase agreement (PPA). Project land ownership will be transferred to the New and Renewable Energy Authority (NREA) at the end of the project duration, 25 years.
The tender is open to local and foreign participants who have built three PV power plants of at least 100 MW each. Bidders are also required to submit audited financial statements for the last three years.
The deadline for submitting prequalification documents is January 14, 2018. To find out more information about the tender, see the Business Opportunity.
This is the first tender for the development of solar parks in Egypt outside of the feed-in tariffs (FIT) scheme, which expired on 27 October 2017. The Egyptian government is now looking to develop solar projects through a net metering scheme.
Under the three-year FIT scheme, around 2 GW of PV capacity was allocated. Many of these projects were stalled for a long time, but have recently reached financial close. This is due to significant revisions to the program made by the government in September.
Thus, there is great potential for solar power in Egypt. In October, the European Bank of Reconstruction and Development identified 16 new solar projects in Egypt, with a cumulative capacity of 750 MW to receive financing, while the International Finance Corp said it was supporting the development of a further 13 solar parks.
This Egyptian government aims to generate 20% of the nation’s electricity from clean sources by 2022.
Country news
-
-
November 09, 2017
EREN, Access announce fin close on 126 MWp in Egypt
EREN Renewable Energy (EREN RE) and Access Power have announced the successful financial close of two solar PV plants with a total capacity of 126 MWp located in the Benban complex marking their official entry into the Egyptian renewable market.
Read more -
October 30, 2017
Scatec Solar closes financing for 400 MW in Egypt
Scatec Solar ASA (SSO) and partners have achieved financial close for six solar PV power plants in Egypt totaling 400 MW. A consortium of international Development Finance Institutions is providing a non-recourse project finance of US$335 million, which accounts for 75% of the capex.
Read more -
October 30, 2017
EBRD, GCF and FMO support 80 MW of Infinity solar projects in Egypt
The EBRD, the Green Climate Fund (GCF) and the Dutch Development Bank (FMO) are supporting the expansion of renewable energy in Egypt with a US$ 87 million syndicated loan to Infinity Solar Energy SAE for 80 MW solar facilities located at the Benban complex.
Read more -
October 27, 2017
ICBC and EBRD back Acwa’s Egypt solar FIT II
Under the EBRD’s US$ 500 million framework for renewable energy in Egypt, the bank is providing a financing package of US$ 73 million for the construction and operation of three solar photovoltaic power plants in Egypt totaling 120 MW.
Read more -
October 24, 2017
Acciona signs PPAs for 150 MW of solar in Egypt
Acciona has announced it has signed power purchase agreements under a period of 25 years, for the development of the 150 MW of solar projects in Egypt. The project is part of Round 2 of the country's feed-in tariff programme.
Read more
