Scatec Solar, along with others developers in Egypt, are renegotiating their power purchase agreements with the government in hopes to keep their investment plants alive, PV Tech reported. “Scatec Solar, along with several other developers, is prepared to accept a reasonable compromise to enable the planned investments … A compromise would need to be found taking into account the interests of Egyptian Electricity Holding Company (EEHC), the developers and the lenders. We assume this would entail an adjustment of the main commercial terms of the PPA, including the tariff, for an acceptable offshore dispute resolution and, potentially, added security related to the conversion of currency,” SVP for business development at Scatec Solar Terje Osmundsen said. As we had noted previously, at least four companies have exited the feed-in-tariff program projects, while 20 others said they may follow. Scatec Solar is the lead developer on one 50 MW project, and the financial partner on five others.

KarmSolar, however, announced they are committed to the feed-in-tariff regulations imposed by the government, Al Masry Al Youm reported. KarmSolar joins Infinity Solar in announcing it is moving forward with phase one.