Back to the complete issue
Monday, 25 July 2016

Phase 2 of feed-in-tariff could share the same fate as phase 1 – Electricity Ministry official

Could FiT phase two meet the same fate as phase one? There is no chance of the government giving in and allowing international arbitration for any disputes arising from contracts in phase one of the feed-in-tariff program, a senior official at the Electricity Ministry tells Al Borsa. He appears to be massaging facts here, by stating that under Egyptian law, only domestic arbitration is valid. The official then throws a bomb: There could be changes to the program in phase two, but any disputes would likely to be resolved in Egypt, but that is up to the state to decide and not just the ministry. But the show must go on as they say: 12 electrical transformers as part of the transmission infrastructure for phase on projects in Benban arrived in Egypt yesterday. These will be part of four transmission stations which cost EGP 650 mn to build, Al Borsa reports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.