Egypts emergent solar industry has received two positive boosts in the space of 24 hours following the news that Italian developer Building Energy will construct two solar plants totaling 50 MW in the country, and the inauguration on Sunday of a 50 MW PV module production facility.
The fab was opened at the Arab Renewable Energy Company (ARECO) HQ by the countrys Prime Minister Ibrahim Mehleb. The facility is to be owned and operated by the Arab Organisation for Industrialisation (AOI), which will collaborate with renewable energy developers to eventually increase its capacity to 100 MW.
The AOI, with the assistance of overseas funding, is targeting costs at 15% below the approved feed-in tariff (FIT), which was initially set at $0.136/kWh for installations between 500 kW and 20 MW, and $0.143/kWh for plants between 20 MW and 50 MW.
Meanwhile, Egypts New & Renewable Energy Authority (NREA) has signed a memorandum of understanding (MoU) with Italian EPC Buidling Energy for the creation of two solar plants located in Benban, Northern Egypt. Combined, the two projects will add 50 MW to Egypts solar footprint.
Building Energy will commence construction on the $200 million project in summer next year, and will see power through a 25-year PPA, which will see the solar energy transported via a 220kV high voltage line to Cairo.
"We are delighted to announce the kick-off of our first two projects in Egypt," said Building Energy MD for MENA Cornelius Matthes. "The country is blessed with world-class solar and wind resources and has established itself an extremely well-managed program under which it aims to produce at least 20% of its total power from renewable sources by 2020."
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