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Wednesday, 13 July 2016

Government won’t budge on domestic arbitration for FiT dispute resolution

Feed-in tariff disputes will be resolved through domestic arbitration proceedings and the government will not yield to investors’ demands for international processes, Electricity Minister Mohamed Shaker said. Shaker also told Al Borsa that investors have known “since day one” that all payments would be made in EGP and qualified companies would have to create Egyptian companies under current laws. “We will not consider changing anything before October.” The second phase of the feed-in tariff projects will be launched on 27 October, Shaker said, noting that the “weaknesses” of the first phase will be addressed. He refused to make public the pricing scheme for the second phase.

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