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Thursday, 2 March 2017

NREA receives six offers for USD 300 mn 350 MW solar power plants in Benban

The New and Renewable Energy Authority (NREA) has received six offers from Chinese, Saudi, Egyptian, and German companies interested in collectively investing USD 300 mn in 350 MW solar power stations in Benban, Aswan under phase two of the feed-in tariff program. NREA is expecting to finish revising the offers in two weeks’ time, sources tell Al Borsa, and the companies are already in talks with banks, trying to finalize funding agreements before the April deadline. The government is reportedly trying to bring the total number of investors in Benban solar projects up to 39 companies, to relieve some of the costs of infrastructure construction, which have risen considerably since the float.

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