At this conference organized by Advanced Conferences and Meetings, representatives of the government agencies involved in the country’s pioneering Solar FiT program, along with key private sector developers, financiers and legal firms, will discuss the modalities to successfully implement solar projects in the country. Mr.Osmundsen and Mr. Helsing will also discuss market outlook and opportunities with regard to Egypt’ solar energy plans.
Under Egypt’s new FiT solar energy program, Scatec Solar (SSO) has secured participation in five projects totalling 250 MW (AC). SSO will be the lead developer in one project, while in four others, it has secured agreements with other developers to participate as equity investor, EPC and O&M provider.
To tackle the nation’s acute power deficit, the Government of Egypt has invited proposals from foreign solar energy developers to construct 2.3 GW utility-scale solar plants during 2015-2017. By 2022, the Government plans to supply 20 percent of installed capacity from renewable energy. Over the next seven years, the foreign investments required to build 6 GW of solar will be in the range of USD 9-10 billion. As solar plants run on free and abundant sun energy, huge benefits many times this investment, will be gained by avoiding the cost of importing expensive fossil fuel to run power stations as well as saving precious foreign exchange. In addition, solar energy plants are rapidly constructed, safe, noiseless, non-polluting and clean, involving zero carbon emissions.
Read more about the event here.