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Sunday, 23 October 2016

What we’re tracking this week

USD 900 mn in FiT phase-one contracts this week: The Electricity Ministry will sign offtake agreements with 12 solar power firms under the first phase of FiT projects this week; deadline for financial close on the projects is Friday, 26 October, Al Mal reports. The projects include nine in Benban as well as three split between Zaafarana and the West Nile, each with a capacity of 50 MW and a total investment cost of USD 900 mn. Among the highlights for far, according to Al Mal and Al Borsa:

  • Elf Energy signed a power purchase agreement with the Egyptian Company for Electricity Transmission;
  • Infinity Solar signed an agreement contingent on reaching financial close by Thursday;
  • Solaris Egypt reached financial close on its Soltag project

Twelve solar firms including Scatec Solar, Wadi Degla, FAS Energy, Al Fanar, Alfa Energy, KarmSolar and Dhamma Energy have reportedly asked to sign offtake agreements under phase one. Also over the weekend: New and Renewable Energy Authority chairman Mohamed El-Sobky said the government is looking to raise USD 6 bn in investments from phase two of the FiT.

Cairo is this year’s “Iconic City” at Dubai Design week, opening tomorrow in Dubai, Ahram Online reports.

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