Egyptian New and Renewable Energy Authority (NREA) has pre-selected three independent power producers for the development and implementation of Zaafarana solar project.
Pre-selected bidders are Nari Solar Energy Technology Co, a Chinese company; Vikram Solar, a company based in Calcutta, India; and the German company BELECTRIC Solar & Battery GmbH. Elecnor and its partner TCK Solar have also applied for the development of the solar project but were rejected for “technical reasons”. Pre-selected teams must submit their respective financial offers before July 25, 2019. The Egyptian Electricity Transmission Company (EETC) will review their proposals and negotiate the feed-in tariff.
The 50 MW Zaafarana solar photovoltaic plant will be located near the Red Sea in Egypt. It is supported by Norfund, a Norwegian government-private equity firm; Africa50, an investment fund of the African Development Bank (AfDB); and the European Bank for Reconstruction and Development (EBRD). The Netherlands Development Finance Corporation (FMO) is also set to provide support for the project.
