Multi-national consortium extends solar luminosity measuring in Egypt for €250mn

Egyptian New and Renewable Energy Authority (NREA) signed Tuesday two agreements to extend period of measuring solar luminosity until October 2016.

NREA Chairman Mohamed Salah El Sobky told Amwal Al Ghad Tuesday that the investment cost of the two agreements are estimated at €250 million.

The agreements were signed between NREA and the European photovoltaics systems  company Scatec Solar, O Capital for Energy – an Orascom Telecom Media and Technology (OTMT) affiliate; Saudi-based ACWA Power, and Jordanian Philadelphia Solar Company.

El Sobky expected the project to generate electricity during the first quarter of 2017.

In September 2015, Egyptian electricity minister announced feeding tariffs projects receiving offers from 187 firms and consortium to execute them.

The ministry plans to establishing wind and solar power plants with the investments estimated at US$7 billion to operate with the capacity of 4,300 MW.