Egypt Looks To Rally Renewables Investors, As Oil Products Imports Soar

Egypt’s renewables program appears to have stalled because of problems in finding international financial backers. Record imports of liquid fuel are further stretching the country’s finances.

Egypt’s Minister of Electricity Muhammad Shakir aims to meet potential investors in renewable energy projects over the next few weeks with a view to reviving interest in the country’s ambitious 4.3GW wind and solar photovoltaic (PV) power program.

The electricity ministry has set out feed-in-tariffs for both wind and solar PV, offering as much as 11.48 cents/kWh falling over time to 4.6cents/kWh for wind projects, and from 9.0-14.35 cents/kWh depending on size for solar projects. But investors have been reluctant to close deals.

The Egyptian Electricity Utility and Consumer Protection Regulatory Authority has issued 56 temporary licenses for wind and solar projects under the feed-in-tariffs system. However, while negotiations are under way with numerous international firms, none of these projects is progressing.


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