Alcazar Energy

Sources connected to developers at the site confirm the figure has been agreed with the Egyptian Electricity Transmission Company but said it was still subject to change. The utility is seeking raised contributions from renewables companies to cover what it says were rises in building material costs.

The association that represents developers operating at the 1,465 MW solar project in Egypt – due for completion in June – say they have been told nothing about a rumored rise in investment costs caused by more expensive construction materials.

The 30 MW plant was developed by a consortium led by Infinity Solar Energy SAE – an Egyptian developer operating in Africa and the Middle East – with Germay’s ib vogt, investment vehicle MMID and private equity firm BPE Partners.

Alcazar Energy has announced the start of commercial operation for a project at Benban, in Egypt. Alcazar says it is the first of more than 30 planned projects in the second round of the mammoth solar park to achieve grid connection, and one of four similar sized projects the company is working on at the site.

The Saudi developer is reportedly suffering fines of $700/MW/day for late delivery of a project at the Benban solar complex in Egypt as 180 MW of plants near completion.