Egypts emergent solar industry has received two positive boosts in the space of 24 hours following the news that Italian developer Building Energy will construct two solar plants totaling 50 MW in the country, and the inauguration on Sunday of a 50 MW PV module production facility.
The fab was opened at the Arab Renewable Energy Company (ARECO) HQ by the countrys Prime Minister Ibrahim Mehleb. The facility is to be owned and operated by the Arab Organisation for Industrialisation (AOI), which will collaborate with renewable energy developers to eventually increase its capacity to 100 MW.
The AOI, with the assistance of overseas funding, is targeting costs at 15% below the approved feed-in tariff (FIT), which was initially set at $0.136/kWh for installations between 500 kW and 20 MW, and $0.143/kWh for plants between 20 MW and 50 MW.
Meanwhile, Egypts New & Renewable Energy Authority (NREA) has signed a memorandum of understanding (MoU) with Italian EPC Buidling Energy for the creation of two solar plants located in Benban, Northern Egypt. Combined, the two projects will add 50 MW to Egypts solar footprint.
Building Energy will commence construction on the $200 million project in summer next year, and will see power through a 25-year PPA, which will see the solar energy transported via a 220kV high voltage line to Cairo.
"We are delighted to announce the kick-off of our first two projects in Egypt," said Building Energy MD for MENA Cornelius Matthes. "The country is blessed with world-class solar and wind resources and has established itself an extremely well-managed program under which it aims to produce at least 20% of its total power from renewable sources by 2020."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.