Egypt’s Ministry of Electricity has signed Saturday an agreement with private sector firm Infinity Solar to buy new-renewable energy according to feed-in tariff (FIT).
The ministry will purchase 50 Megawatts from a solar power plant project Benban, about 1km Aswan governorate.
Egypt’s Infinity Solar was established in 2014 to develop solar plants and offer EPC and O&M services to the Egyptian solar market. It successfully qualified with NREA for the Egyptian feed in tariff program.
Egypt’s renewable energy deal is the second following an agreement signed last Thursday.
Gaber El-Desouky, Chairman of state-run Egyptian Electricity Holding Company, and Gamal Abdel Rahim, Chairman of Egyptian Electricity Transmission Company, have signed the deal with the head of Infinity Solar Egyptian Company.
The agreement includes buying solar power generated from the plant to be added to the national electricity grid.
El-Desouky has said Egypt’s ministry of electricity is keen on promoting private sector’s role, attracting investments in the field of renewable energy, and the variety of energy’s source.