Ismail signs three energy purchase agreements for solar energy projects

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Prime Minister Sherif Ismail witnessed the signing ceremony of three power purchase agreements for photovoltaic solar power projects (cap. of 150 megawatts) with a consortium composed of TBEA, SWICORP and ACCIONA in the Banban area north of Aswan as part of the second phase of the feed- in tariff programme.

The signing of the agreements comes within the framework of government efforts to operationalize the feed-in tariff programme adopted for solar and wind projects up to 50 megawatts as part of a larger programme to support renewable energy. These efforts also aim to utilise the latest technologies in the production of energy to meet the increasing needs of electricity required for development. When completed in the fourth quarter of 2018, the three plants to be built in the town of Banban in Aswan are expected to reduce the emissions of carbon dioxide by 195 thousand tons per year and to provide electricity to about 100 thousand homes.

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They will also contribute to reducing risks and creating jobs through the green economy and improving trade balances, which could come with the generation of more energy from new and renewable sources. It is worth noting that the central unit for feed-in tariff projects was established to facilitate dealing with investors. One hundred thirty six consortium and companies were qualified in the first phase, which aims to add 4300 MW of solar and wind energy with investments of US$6 billion.

The Minister of Electricity and Renewable Energy pointed out that so far the participation of 36 consortiums has been confirmed with a total capacity of about 1605 megawatts within the second phase of the feed-in tariff programme, and 25 power purchase agreements have already been signed with a total capacity of about 1,200 megawatts.

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