No new solar power projects until FiT is completed

The Electricity Ministry is not planning to issue any new tenders for solar power projects until it completes ongoing ones under the feed-in tariff (FiT) program, Minister Mohamed Shaker said on Monday, according to Al Borsa. Shaker expects energy companies working on projects under phase two to reach financial close soon and sign power purchase agreements before the end of October. We noted last week that 10 solar companies signed PPAs with the Egyptian Electricity Transmission Company after reaching financial close with various international funding institutions.