Egyptian government signs deal to buy power from 200 MW of Kom Ombo project
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.
Benban developers agree to pay an extra $102m for building materials
Half of the EGP1.6 billion charge will be paid up front with the balance staggered over five years, pv magazine has learned.
Benban developers on brink of settling reported $102m cost-sharing deal
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.
Egypt to impose ‘merger fee’ on net-metered solar
Law firm Riad & Riad has confirmed the levy will be applied but said the level of the charge had not been determined, despite a report to the contrary in one local newspaper.
EDF invests in Egyptian renewables developer KarmSolar
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.
Scatec Solar connects another batch of bifacial tracking capacity in Egypt’s Benban complex
Boasting 195 MW of bifacial-and-tracking capacity, Scatec Solar is halfway to its planned 400 MW target for the technology combination at the 1.8 GW Benban park. The remainder is likely to come online this year.
Developers in the dark over reported 25% hike in Benban investment 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.
First EBRD-financed slice of Benban project comes online
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.
Fine is mounting up against FAS
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.
Suntech to supply 304 MW of modules to Voltalia
The news comes after Suntech recently announced a separate 116 MW module supply deal, with both orders related to Egypt’s mega Benban complex
