Egypt will finalise around 27 solar power plants in the country’s under-construction giant solar park in Benban near Aswan under the Feed-in-Tariff (FiT) by the middle of the month.
Benban Solar Park is set to be the largest worldwide that consists of four phases. The first phase was inaugurated by Egyptian President Abdel Fatah al-Sisi in July 2018.
Feed-in-Tariff programme aims to use private-sector capital and expertise to help achieve its goal of providing 20 percent of its electricity from renewable resources by 2022.
“We are planning to implement 27 solar power plants out of 32 to generate 1,465 MW at an investment cost worth more than $2 billion,” official sources in the Egyptian Electricity Ministry told Amwal Al Ghad on Saturday.
The whole project is with an expected investment cost totalling $3 billion, the sources said.
In 2014, the ministry has announced feed-in tariffs for electricity generated by solar and wind sources as part of the government’s efforts to increase the country’s energy capacity in the face of serious power shortages and recent power outages.
It is set to allow the government to guarantee a certain price for energy produced to encourage investment in the renewable energy sector.