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Sunday, 29 May 2016

Electricity Ministry sets rate of USD 0.047/KW as standard for negotiating feed-tariff contracts

The Electricity Ministry has agreed to setting USD 0.047 per KW for 25 years as the feed-in tariff rate for a 250 MW wind farm in the Gulf of Suez belonging to a consortium of Toyota, Orascom and GDF Suez. That will become the standard for negotiating all subsequent feed-in tariff contracts, a ministry source tells Al Borsa. The ministry will sign the final agreements with the consortium for the wind farm in June, and is ironing out the clause on a guarantee from the Finance Ministry.

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