Summit Egypt set to work on solar plant in Aswan

Summit Egypt is in talks with three potential foreign partners on its USD 80 mn solar power project in Aswan, Al Borsa reports. Summit is looking to finalize plans for the 50 MW feed-in tariff project with either one or two of the yet unnamed firms by the end of the month in order to reach final close and sign its power purchase agreement before the Electricity Ministry’s October deadline expires. 30% of project financing will be sourced locally through the National Bank of Egypt and CIB, while 70% will be acquired via international lenders.