Egypt launches tenders for 250 MW solar park in Gulf of Suez
Egypt's New and Renewable Energy Authority (NREA) has launched a tender for the development of a 250MW solar plant in the Gulf of Suez.
According to sources, the tender has attracted interest from six firms and the NREA is currently stuying their proposals.
Several solar power plants are scheduled to be developed under second round of Egypt's feed-in tariff scheme, which involves private investment in solar parks in Aswan, Minya and the Gulf of Suez. The FiT program, which includes projects financed by institutions like the IFC, European Bank for Reconstruction and Development (EBRD) and Proparco, is expected to be one of the largest foreign direct investments (FDIs) in years, catalyzing a total inflow of US$2 billion.
As we reported in late August, the European Bank for Reconstruction and Development (EBRD) and Proparco provided US$116 million of financing for the construction and operation of two 50 MW solar photovoltaic power plants in Egypt. The new facilities will be constructed, operated and owned by two Egyptian subsidiaries of the French company EREN Renewable Energy and Access Power.
These were the first two projects to be financed under the Egypt's feed-in tariff plan for renewable and will be part of the planned 1.8 GW Benban solar complex in Aswan province, in the southern area of Upper Egypt.
They were also the first projects under the EBRD’s US$500 million framework for renewable energy in Egypt, approved in June, which is expected to finance a total of 16 projects delivering 750 MW of capacity and under Proparco’s dedicated envelope for solar projects in Egypt.
Additionally, in June, the International Finance Corporation (IFC), approved an investment of US$635 million to help construct, operate and maintain up to 11 solar power plants in Egypt.
We have lately informed about other renewable project in Egypt:
