Building Energy has signed a memorandum of understanding (MoU) with the New & Renewable Energy Authority (NREA) for two 50 MW solar photovoltaic (PV) plants, which will be located in Benan. Each PV plant is expected to generate around 143 GWh of solar power per year. Costruction works are scheduled to begin in summer 2016.
The plans have secured a 25-year power purchase agreement (PPA) and will be connected to the 220 kV high voltage line linking Asswan to Cairo.
The total projects investment is estimated at US$200 million.
The joint venture between Saudi-based Desert Technologies and Italy’s Enerray has also signed MoUs with NREA for two 50 MW solar projects, as well as a 50 MW wind project. These projects will be developed under the country’s feed-in-tariff (FiT) system. The facilities will be located on two plots of government land in Benban.
The total projects investment is estimated at US$250 million.
In min June Egyptian manufacturing company Elsewedy Electric signed a memorandum of understanding with the NREA for a 50 MW solar project in Benban. The energy generated by the project will be sold to the Egyptian Electricity Transmission Company under a 25-year PPA.
The total project investment is estimated at US$75 million.
In addition, Lekela Power, a 60/40 joint venture between Actis and Mainstream Renewable Power, has also MoUs with the NREA for a 50 MW PV solar plant in Aswan, Egypt, and a 50 MW wind power plant in the West Gulf of Suez.
Egypt aims to have 2.3 GW of solar capacity installed by 2018 and has established a feed-in tariff regime to boost the development of solar and wind energy projects.