150 MW Of Wind And Solar Being Added In Egypt Through FIT

Posted by NAW Staff on August 13, 2015 No Comments
Categories : Projects & Contracts

Under the feed-in tariff (FIT) program in the Arab Republic of Egypt, Al Jeel Al Hader Trading Co. (dba Desert Technologies) and Enerray SpA, a company of the Maccaferri Group, were recently awarded two 50 MW solar PV projects and one 50 MW wind project in Egypt.

Saudi Arabia-based Desert Technologies and Italy-based Enerray have already signed memoranda of understanding with the New and Renewable Energy Agency to lease two plots of government land for the PV projects in Benban in Upper Egypt. The wind project will be located in Zafarana next to the Gulf of Suez.

In addition to developing the projects, Desert Technologies and Enerray will also be acting as engineering, procurement and construction contractors and operations and maintenance providers through their joint venture.

The government FIT program aims to secure 3.6 GW of wind and solar energy on a ‘build, own and operate’ basis and includes a 25-year fixed tariff of $0.1434 /kWh for PV and a 20-year variable tariff for wind power.

The projects are expected to have a total investment in excess of $250 million, with a mixture of debt and equity financing.

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