Fas Energy to complete work on its Benban solar power plant in August

Fas Energy, a subsidiary of Saudi’s Al Hokair Group, is planning to complete work on its 50 MW solar power plant in the USD 2.8 bn Benban park by August this year, a company source tells Al Borsa. The project is being implemented under phase one of the feed in-tariff (FiT) program, which will see Fas sell power to the Egyptian Electricity Transmission Company at a FiT rate of USD 0.14 per kWh for 25 years. GE will be supplying the project with inverter skids, solar panels, and cables, the sources add.