INVESTMENT WATCH- China eyes solar power projects. China’s Shanghai Electric and TIBA Group are currently bidding on USD 600 mn-worth of solar power station projects with a combined generating capacity of 600 MW, unnamed ministry sources tell Al Masdar. The companies are reportedly vying to develop the solar power stations — which will be funded through three unnamed Chinese banks — in Benban or West Nile Delta. The ministry is expected to announce its stance on the offer by year’s end. Speaking of renewables, we had noted yesterday that UAE’s Alcazar Energy looking to snag USD 500 mn in wind projects in the Gulf of Suez region.

Post-Benban renewables FiT rate set at USD 0.025 per kWh: This comes as the Electricity Ministry has reportedly settled on a maximum feed-in-tariff for power generated by renewable energy projects at USD 0.025 per kWh, according to ministry sources. All renewable energy projects will now be tendered and established under a build-own-operate framework, with companies required to submit financial offers that include selling power at or below the maximum tariff, the sources say.