Egypt’s New and Renewable Energy Authority (NREA) is finalising the power purchase agreements (PPAs) for its feed-in-tariff on its renewable energy programme and hopes to reach financial close for the first projects by the first quarter of 2016.

“We are about to finalise the PPAs,” said Mohammed Salah el-Sobki, executive chairman, NREA, speaking at the Global Solar Leaders Summit in Dubai on 14 September.

“We are a bit delayed as we were waiting for feedback from developers, but now we are working with the [electricity] ministry and the EETC [Egypt Electricity Transmission Company] to finalise the agreements. We are hoping for financial closure for the first projects by the end of the year, or by the first quarter of 2016 at the latest,” said El-Sobki.

In April, MEED reported that NREA had issued the draft PPA for developers to assess and give feedback.

The ministry hopes to sign all the PPAs in the 4,300MW first round of feed-in tariff projects by the end of 2016.

This comprises 2,000MW of wind projects, 2,000MW of solar photovoltaic (PV) projects and 300MW of rooftop solar PV projects.

This implies the award of at least 80 large contracts and 600 rooftop contracts.

Several other NREA renewables projects are still in the tendering process, including the 250MW Gulf of Suez Wind Farm.

MEED recently reported that NREA was in negotiations with the two lowest bidders for the 250MW Gulf of Suez independent power project (IPP) in Egypt.