Published on December 3rd, 2015 | by Saurabh2
Egypt Signs Agreements To Develop 1.8 GW Solar Power Park
December 3rd, 2015 by Saurabh
The Egyptian Ministry of Electricity this week took a major step towards the development of one of the largest solar power parks in the world.
A total of 11 project developers have signed agreements to develop projects that will form a part of the 1.8 GW solar power park planned for Benban, Aswan. This adds to the project development agreements already signed by the government with 24 other companies. An additional four companies are expected to sign agreements later, meaning a total of 39 companies will set up projects at the solar power park.
The 11 companies that recently signed project developer agreements include Enel Green, EDF, Access Building Energy, and Building Energy Alliance. Companies that had signed the agreement earlier included TAQA Arabia, Cairo Solar, Orascom, Lekela Power (a joint venture between Mainstream Renewable Power and Actis).
As part of the agreements, the companies will be required to pay certain amount for the construction of infrastructure including roads and substations. The companies will also have to may some additional payments towards the development of power evacuation infrastructure.
The solar power park is expected to be developed at a total cost of $3 billion. According to local media reports, the government will offer the projects for development to prospective developers through usufructs, meaning the land for the projects will likely be owned by the government, but that developers will be allowed to set up their projects and derive profits.