Finance Ministry issues letters of guarantee to 30 solar power companies under FiT phase two

The Finance Ministry issued financial guarantees to 30 solar power companies implementing projects under phase two of the feed in-tariff (FiT) program, government sources told Al Borsa. The projects are being funded by the European Bank for Reconstruction and Development and International Finance Corporation, they said. Companies are now waiting to receive their permits to begin construction, which is expected to wrap up within six months. The Egyptian Electricity Transmission Company had reportedly accepted financial models for the planned power plants in Benban earlier this month.