Norway-based developer Scatec Solar is planning to develop as much as 200 megawatts of solar capacity in Egypt after securing the right to develop a 50-MW plant in the country.
Scatec signed the deal with Egypt’s New and Renewable Energy Authority, which awarded the project under the country’s feed-in tariff program. “Scatec Solar is impressed by the determination of the government of Egypt to address the energy challenges by inviting experienced solar companies to rapidly build up large-scale solar PV capacity in the country,” said Raymond Carlsen, CEO of Scatec Solar.
“Together with our finance partners we target to develop, build, own and operate 150 – 200 MW of new solar power plants in Egypt over the next two-three years, investing more than USD 300 million. Solar has the potential to become a huge new source of power in Egypt.”
The Egyptian government invited proposals from foreign wind and solar developers for the construction of two 2,000-MW utility-scale solar and wind power respectively, as well as 300 MW of decentralized solar for the period 2015-2017. The government is targeting for the first phase of projects to start construction in 2015.
The government has set a target of having 20% of installed capacity from renewable by 2022, which amounts to about 12 gigawatts. Scatec has also been shortlisted to participate in Egypt’s tender program for a 200-MW solar project in Kom-Ombo.