Company planning to develop 65MW solar facility
- UAE developer signs initial agreement to develop 65MW photovoltaic solar facility
- Company also working on plans to develop a 50MW wind farm
- Projects are part of Egypts feed-in tariff programme
The UAE-based Access Power has signed a memorandum of understanding (MoU) with Egypts Ministry of Electricity & Renewable Energy to develop a 65MW solar power plant.
Under the terms of the agreement, Access Power will work on plans to develop a 65MW photovoltaic (PV) solar plant in Aswan. The company is also in discussions with the ministry to develop a 50MW wind project in Zafrana. The total value of both projects is estimated to be $200m.
The MoU also contains a land allocation lease agreement for the solar project.
The developer is hoping to begin construction in 2016. The projects are part of the 4,300MW feed-in tariff programme.
MEED reported in March that Egypts Ministry of Electricity & Renewable Energy had signed the first land allocation agreements for its feed-in tariff renewable energy programme at the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh.
In the presence of Electricity & Energy Minister Mohamed Shaker, the New & Renewable Energy Authority (NREA) signed agreements to provide land to three developers, each for 50MW solar projects.
The first company to be allocated land was Jordans Philadelphia Solar, which is also developing a 12MW PV solar power plant in Jordan under the feed-in tariff programme.
The other two firms that have been allocated land for their 50MW proposals are Saudi Arabias FAS Energy, part of Fawaz Alhokair Group, and the local Orascom.
MEED reported on 14 March that NREA hoped to finalise the terms of power-purchase agreementsfor the first round of its feed-in tariff renewable energy programme by early April.
Under the countrys first direct proposal renewable energy programme, Egypt wants 4,300MW of renewable energy developed, split between solar (2,300MW) and wind (2,000MW).
The ministry hopes to have awarded all contracts in the first direct proposal tranche by the end of 2016.