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The EETC and NREA stipulate that successful solar bidders will build, own and operate the projects, while signing a power purchase agreement (PPA) with the Egyptian authorities for the power they produce. All bids must also come with a bid bond of around $4.5 million.
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This news follows the Egyptian Ministry of Electricity and Renewable Energy signing several memoranda of understanding for 220 MW of solar PV in May, as part of the government’s FIT programme. The government has also set a target of developing 4.7 GW of wind and solar power by 2017.
The tender will be officially launched on August 30.