Daily News Egypt

NREA plans to complete several projects in Q1 of 2017 - Daily News Egypt

Advertising Area




Advertising Area




NREA plans to complete several projects in Q1 of 2017

All variables have been accounted for in the second phase of the feed-in tariff project, says Omran


The New and Renewable Energy Authority (NREA) aims to complete a number of feed-in tariff projects in the first quarter of 2017. According to the NREA’s new interim chairperson, Mohamed Mousa Omran, the company will prioritise stalled projects. He said that he has approved requests made by a number of solar companies to transfer the lands of the feed-in tariff from Minya to Benban.

Omran said that priority is given to existing projects in order to attract newer projects. The authority is also focusing on operation and maintenance, implementing principles of governance, and regulation.

He said that the NREA posed a tender to establish a 20 MW solar power plant in Kom Ombo in cooperation with the Agence Française de Développement (AFD).

Moreover, he added that the Japan International Cooperation Agency (JICA) will also present a loan of $90m to establish a solar power plant in Hurghada to produce 20 MW of electricity. This project, he noted, is expected to begin within two months.

This would be the fifth station of its kind in Egypt. All in all, Egypt generates 280 MW of electricity using solar power.

Omran pointed out that the NREA supports investors of the feed-in tariff projects through both phases, noting that nine companies have signed the power purchasing agreement in the first phase.

He described the second phase as “very good,” adding that “all variables were accounted for, including the value of the tariff, conditions, and regulations.”

In the second phase of the project, the NREA stipulated that arbitration will be carried out in Egypt, unless all parties involved prefer to have arbitration carried out in Paris, France.

Omran added that the Egyptian Electricity Transmission Company (EETC) is committed to paying its dues to the NREA, adding that the latter has received part of the arrears two weeks ago.

The total outstanding dues to the NREA from the EETC amount to EGP 500m.

 

https://cdn2.dailynewsegypt.com/2017/01/02/nrea-plans-complete-several-projects-q1-2017/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe