Seven energy companies—Egyptian, Saudi, Emirati, and Chinese—are considering withdrawal from the second phase of the solar power feed-in tariff projects. The guidelines and conditions of the second phase of the feed-in projects were announced before the Central Bank of Egypt’s (CBE) decision to float the pound. The conditions of the second phase of the feed-in tariff projects include financing the solar energy projects with 70% from foreign sources of funding and 30% from local sources of funding. 33 companies and alliances are taking part in the second phase of the feed-in tariff projects, according to Ehab Ismail, director of planning department at NREA. Companies taking part in the second phase of the feed-in tariff projects include Infinite Solar, Alfa Solar, TAQA Arabia, Orascom Construction, ACWA Power, Philadelphia Solar, Sun Infinite Energy, Alcazar Energy, Elsewedy Electric, Phoenix Power, and Access Power.

Source: Daily News Egypt March 21, 2017 13:41 UTC