Egypt- 25 companies buy prospectus for Zaafarana solar power...| MENAFN.COM

Saturday, 10 December 2022 11:43 GMT

Egypt- 25 companies buy prospectus for Zaafarana solar power plant tender


(MENAFN- Daily News Egypt) class="p1">Recently, 25 companies bought the prospectus for the tender to establish the Zaafarana solar power plant in Ras Gharib, Red Sea.

Sources at the New and Renewable Energy Authority (NREA) told Daily News Egypt that the list of the companies included PowerChina, Sterling and Wilson, Infinity, Elsewedy, Sky Power, and others.

The sources added that the NREA will be receiving offers from companies starting from 24 June, following the system of designing, establishing, and operating system. The NREA will be handling the negotiations with the Egyptian Electricity Transmission Company (EETC) to sell the capacities produced from the plant.

KfW Development Bank will be funding the project with €50m, according to officials at the NREA in previous statements.

The sources explained that the price of selling the produced capacities from the Zaafarana plant will not be equal to the price at which the EETC will buy it from other plants affiliated with the NREA, though negotiations will continue.

DNV GL for advisory services will be handling the advisory work of the 50 MW Zafarana plant. The project will be implemented in accordance with international standards and conditions.

The Ministry of Electricity targets producing 20% of the country's total energy directed to the national electricity grid from renewable resources, by 2022. It seeks to open the field before the private sector, as well as to international and Arab companies to invest in such projects.

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