- Saudi Arabian and Italian joint venture will develop two solar and one wind project in Egypt
- Agreement covers land allocation for the power schemes
- Egypt is planning to develop 4,300MW of renewable energy under feed-in-tariff programme
A joint venture of Saudi Arabias Desert Technologies and Italys Enerray has signed agreements with Egypts New and Renewable Energy Agency (NREA) for solar and wind energy projects.
The joint venture has signed memorandum of understandings (MOUs) for land for two 50MW solar plants and a 50MW wind farm. The projects will have a total estimated value of $250m, and will be developed under the countrys feed-in-tariff scheme.
In May, NREA signed MOUs with a number of groups for a total of seven solar and wind projects.
The local Orascom Construction Industries (OCI) signed MOUs to develop 50MW of solar and 50MW of wind projects. Saudi Arabias Alfanar Construction also signed MOUs for 50MW of solar and wind projects.
The UAEs Access and the local Sun Infinite both signed agreements to develop 50MW of solar energy and the local Gila al-Tawakol Electric signed an MOU for a 20MW solar project.
Under the feed-in-tariff programme, Egypt is planning to develop 4,300MW of renewable energy. This is scheduled to comprise of 2,000MW of solar photovoltaic (PV) projects and 300MW of rooftop solar PV projects. NREA and the Electricity & Renewable Energy Ministry is planning to have awarded the contracts for all of the first phase projects by the end of 2016.
In May, MEED reported that the ministry was revising the power-purchase agreements (PPAs) for the first phase of the renewables programme.