The US GE has been awarded a contract to build a photovoltaic (PV) solar plant in Egypt.
GE will provide equipment and build a 50MW PV plant for Saudi Arabias FAS Energy, which is developing the plant under Egypts feed-in-tariff (FiT) programme. The project will be GEs first full turnkey solar contract.
FAS Energy was one of three developers which succeeded in reaching financial close under the first round of Egypts ambitious FiT programme. All of the three first round projects will be located at a site in Benban, Aswan.
While the first round of the FiT programme was plagued by a number of problems, from the ongoing currency crisis in Egypt to disputes over the omission of an international arbitration clause in the contracts, the second round is faring considerably better.
In August, Saudi Arabias Acwa Power was awarded contracts to develop three projects under the second round of Egypts feed-in-tariff (FiT) programme.
Acwa Power will develop, finance, build, own and operate three photovoltaic (PV) solar facilities with a total capacity of 165.5MW. The total investment required will be about $190m.
The three projects will be located in the Aswan province in Benban, and will have the capacity to generate 67.5MW, 70MW and 28MW individually. The projects are expected to reach financial close by the fourth quarter of 2017, with construction due to start by the end of the year. The plants are due to start operation in 2018. For the 67.5MW project, the local Hassan Allam Holding is Acwa Powers partner for the scheme.
Acwa Power is the second Saudi developer to sign contracts to deliver PV solar plants under the second round of the FiT programme. MEED reported in May that Alfanar Energy had signed a power purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC) to develop a 50MW photovoltaic (PV) solar plant under the second round of the FiT scheme.