Six investors signed under FiT phase one, 9 withdrew
Six renewable energy firms signed power purchase agreements under phase one of the feed-in tariff program for renewable energy by yesterday’s deadline. Nine others withdrew from the program, but could still participate in phase two. Companies have until today to announce they have reached financial close on their projects; any company not doing so can carry forward to phase two, which has different terms. Energy producers signing yesterday included: Scatec Solar, Infinity Solar, Elf Energy, ARC Renewable Energy, Austrian Renewable Energy Agency (ARENA), and Nubian for Renewable Energy, Al Borsa reported, adding that Scatec, Infinity, Nubian and ARC are the most likely to complete financial close by today. Companies withdrawing from phase one (most of this has previously been reported):Italy’s Enel Green Power, France’s Neon, KSA’s Abdel Latif Jameel Energy, Egypt’s Cairo Solar, Spain’s Dhamma Energy, Conrad-Canadian Solar, Innovation Unlimited Egypt, the UAE’s Adenium Energy Capital and OTMT. Eighty companies and consortia who are qualified for FiT will continue into the second phase, including Elsewedy Electric, Orascom Construction, Philadelphia Energy, ACWA Power, Al-Tawakol for Electrical Industries and Lekela Power, Al Borsa reported.