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Egypt invites bids for 500 MW of solar, wind energy projects

Kuraymat solar-natural gas power plant in Egypt. Author: Kuraymat. License: Creative Commons.

August 13 (SeeNews) - Egypt on Monday invited bids for the development of 500 MW of renewable energy projects, including one solar photovoltaic (PV), one concentrating solar power (CSP) and one wind power project.

More specifically, the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) announced separate tenders for 250 MW of wind, 200 MW of PV and 50 MW of CSP capacity, law firm Eversheds LLP announced.

The facilities, which will be developed on a Build, Own and Operate (BOO) basis, are planned for the West Nile Area. EETC will sign power purchase agreements (PPAs) with the winners. NREA, on its part, will provide the land for the projects. Interested parties should submit pre-qualification documents for the wind tender by October 5, 2015. Bids as part of the PV and CSP auctions are expected by November 2 and November 16, 2015, respectively.

EETC and NREA are inviting both local and foreign developers to participate in the auctions Those who take part in the wind and PV tenders should have prior experience in building at least three 50-MW facilities of the specific type. On the other hand, those who bid in the CSP tender need to have installed at least 30 MW of solar thermal power capacity across three sites.

Because of the high criteria, there may be just a “relatively small group of top international developers” willing to bid, Cornelius Matthes, managing director for the Middle East and North Africa (MENA) region at Italian company Building Energy, told The National. One investor involved in the previous PV tender revealed to the newspaper that none of the 1,800 MW of PV projects already awarded by the Egyptian government had achieved financial close.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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