EETC settles EGP 1.9 bn cost-sharing bill increase with Benban solar companies

The Egyptian Electricity Transmission Company (EETC) has reached an agreement with the Benban Solar Energy Developer Association that will see the developers pay the EGP 1.9 bn increase in the cost-sharing bill for projects in the Benban solar park, EETC Chairman Sabah Mashali tells Al Mal. The companies working on the solar projects had previously refused to pay the sum, which is a result of increased building material costs, but the banks financing these projects had said they would be on board to extend additional financing to cover the cost increases.