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Sunday, 30 October 2016

Feed-in tariff phase 2 starts, ministry announces phase 1 list of companies

Phase two of feed-in tariff (FiT) program launched on Friday for a period two years. That comes just one day after Thursday’s deadline for signing power purchase agreements (PPA) for renewable energy firms under the terms of phase one, Al Mal reported. Phase two looks to close agreements for as much as 4 GW of total capacity, with the deadline for financial close on solar projects set for 12 months from now, subject to an interim checkpoint in about six months’ tie. Wind energy producers will have 18 months to reach financial close. Appeals of local arbitration rulings will be conducted abroad in phase two, as we previously reported. Here is a round-up of phase two terms to refresh your memory.

Official list of 10 FiT phase one companies: The list of companies that signed PPA under the terms of FiT phase one for projects in Benban, Zaafarana and West of the Nile with investments of USD 615 mn were announced by Egyptian Electricity Transmission Company chairman Gamal Abdel-Rehim. The companies include:

  • Arinna
  • CTIP Oil & Gas
  • Desert Technology
  • Elf Energy
  • FAS Energy
  • Infinity Solar
  • MAG
  • Scatec Solar
  • Wadi Degla
  • Winergy-Schneider

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