Saudi power company ACWA Power today revealed it has signed a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and said development was on track for generation to start before October next year.
Half of the EGP1.6 billion charge will be paid up front with the balance staggered over five years, pv magazine has learned.
The 24-day, digital 2020 Africa Energy Forum kicked off on October 20. The event brings together African energy sector officials to identify opportunities, air their views, form partnerships, and take the necessary steps to improve the industry. For solar, challenges in policy making, procurement processes and the effects of the Covid-19 pandemic were discussed, as well as emerging trends such as solar digitalization.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
The European Bank for Reconstruction and Development is offering the funds to Egypt’s transmission system operator to strengthen the country’s grid to host more renewable energy in anticipation of rising power demand over the coming decade.
The French energy group has injected an unspecified sum into KarmSolar, which has a 165 MW solar project portfolio in Egypt. The developer specializes in power purchase agreements and solar distribution contracts with large commercial, agricultural and industrial clients.
A government ministry reportedly announced 16 operational solar plants with a total capacity of 780 MW have been connected, along with three more projects that are expected to bring another 150 MW of capacity online this month.
The realization of Egypt’s 1.8 GW Benban solar complex has posed a long series of challenges to its numerous developers. The creation of the Benban Solar Developers Association (BSDA) has helped move the project forward amid initial grid constraints and several logistical issues, among others. Although only one of the 33 projects has now reached completion, all are set to be grid-connected by June 2019 – the final deadline set by the Egyptian government, according to Assem Korayem, a member of the BSDA and the operating general manager at Access-Power Egypt. In a conversation with pv magazine, he provides an extensive update on the current status of the huge PV complex.
The projects were awarded to the German EPC under the second round of the Egyptian FIT program, and are located in Benban in the country’s Aswan Governate.
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