{"id":575244,"date":"2020-10-07T04:12:58","date_gmt":"2020-10-07T04:12:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/eetc-settles-egp-1-6-bn-cost-sharing-bill-increase-with-benban-solar-companies\/"},"modified":"2020-10-07T04:12:58","modified_gmt":"2020-10-07T04:12:58","slug":"eetc-settles-egp-1-6-bn-cost-sharing-bill-increase-with-benban-solar-companies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/eetc-settles-egp-1-6-bn-cost-sharing-bill-increase-with-benban-solar-companies\/","title":{"rendered":"EETC settles EGP 1.6 bn cost-sharing bill increase with Benban solar companies"},"content":{"rendered":"

Benban solar developers get EGP 300 mn reduction in cost-sharing bill: <\/strong>Solar power developers operating at the Benban solar power park have reached an agreement with the Egyptian Electricity Transmission Company (EETC) to lower the cost-sharing bill to EGP 1.6 bn from EGP 1.9 bn, the local press<\/a> reports, citing unnamed sources at the EETC. Companies had previously agreed<\/a> to pay the EGP 1.9 bn towards the costs of developing key infrastructure and utilities at the site, but appear to have lobbied the state-owned electricity company to lower the bill a second time. The EETC had last lowered the bill, which was originally priced at EGP 2.4 bn, in May 2019. The 32 energy developers at the park will pay the sum across six installments over a five-year period, a portion of which will not be charged interest.<\/p>\n

The settlement should mark an end to the dispute <\/strong>dating back to last year when the EETC raised the cost-sharing bill by 25%<\/a> due to higher-than-expected building costs, allegedly without notifying the developers<\/a>. Companies refused to pay the increase on the grounds that they were not previously made aware of the scale of the financial obligations.<\/p>\n

Advisors:<\/strong> Mazghouny & Co (LinkedIn<\/a>) acted as legal counsel to the solar power developers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Benban solar developers get EGP 300 mn reduction in cost-sharing bill: Solar power developers operating at the Benban solar power park have reached an agreement with the Egyptian Electricity Transmission Company (EETC) to lower the cost-sharing bill to EGP 1.6 bn from EGP 1.9 bn, the local press reports, citing unnamed sources at the EETC. […]<\/p>\n","protected":false},"author":1,"featured_media":575245,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[572,6036,1284,2551,72,6035,151,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-benban-solar-park","tag-cost-sharing-bill","tag-eetc","tag-egyptian-electricity-transmission-company","tag-enterpriseam","tag-feed-in-tarrif","tag-renewables","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"78a2ff7a-8043-416c-946a-6708c7273987","is_powered_by":true,"section_story_id":"09265a82-4346-4d8b-9df6-ca74beaf0fec","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/74.jpg","photo_position":"above","related_issue":[575233],"teaser":"","voice_url":""},"yoast_head":"\nEETC settles EGP 1.6 bn cost-sharing bill increase with Benban solar companies - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/eetc-settles-egp-1-6-bn-cost-sharing-bill-increase-with-benban-solar-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EETC settles EGP 1.6 bn cost-sharing bill increase with Benban solar companies\" \/>\n<meta property=\"og:description\" content=\"Benban solar developers get EGP 300 mn reduction in cost-sharing bill: Solar power developers operating at the Benban solar power park have reached an agreement with the Egyptian Electricity Transmission Company (EETC) to lower the cost-sharing bill to EGP 1.6 bn from EGP 1.9 bn, the local press reports, citing unnamed sources at the EETC. 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The companies working on\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597167,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/17\/eetc-looking-to-settle-egp-1-9-bn-cost-sharing-bill-with-benban-solar-companies\/","url_meta":{"origin":575244,"position":1},"title":"EETC looking to settle EGP 1.9 bn cost-sharing bill with Benban solar companies","author":"enterpriseam admin","date":"17 July 2019","format":false,"excerpt":"The Egyptian Electricity Transmission Company (EETC) will hold a meeting with the Benban Solar Energy Developer Association to settle the EGP 1.9 bn rise in the cost-sharing bill for projects in the Benban solar park, EETC sources tell the local press. According to the sources, the companies working on the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567646,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/benban-solar-developers-get-a-break\/","url_meta":{"origin":575244,"position":2},"title":"Benban solar developers get a break","author":"enterpriseam admin","date":"2 December 2020","format":false,"excerpt":"It\u2019s settled: Benban solar developers get reduced cost-sharing bill. The Egyptian Electricity Transmission Company (EETC) has signed an agreement with 32 solar developers operating at the Benban plant that will cut their cost-sharing bill by EGP 300 mn to EGP 1.6 bn, the local press reports, citing unnamed sources familiar\u2026","rel":"","context":"In "RENEWABLES"","block_context":{"text":"RENEWABLES","link":"https:\/\/enterpriseam.com\/egypt\/category\/renewables\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/45.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602751,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/04\/elsewedy-electric-signs-egp-1-7-bn-power-transmission-agreement-with-eetc\/","url_meta":{"origin":575244,"position":3},"title":"Elsewedy Electric signs EGP 1.7 bn power transmission agreement with EETC","author":"enterpriseam admin","date":"4 April 2019","format":false,"excerpt":"Elsewedy Electric has signed an EGP 1.7 bn agreement with the Egyptian Electricity Transmission Company (EETC) to set up an electricity transmission line from the Benban solar power park, EETC head Sabah Mashaly told reporters. No further details were provided.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637312,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/13\/govt-fit-costs-from-benban-solar-park-could-reach-egp-3-3-bn-per-year\/","url_meta":{"origin":575244,"position":4},"title":"Gov\u2019t FiT costs from Benban solar park could reach EGP 3.3 bn per year","author":"enterpriseam admin","date":"13 November 2017","format":false,"excerpt":"The Egyptian Electricity Transmission Company (EETC) expects its feed-in tariff payments for the solar power projects in Benban, Aswan to reach EGP 3.3 bn per year, according to Al Borsa.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595645,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/eetc-ge-sign-agreement-for-monitoring-center-for-benban-solar-park\/","url_meta":{"origin":575244,"position":5},"title":"EETC, GE sign agreement for monitoring center for Benban solar park","author":"enterpriseam admin","date":"1 August 2019","format":false,"excerpt":"The Egyptian Electricity Transmission Company (EETC) and General Electric (GE) have signed an agreement to establish an EGP 89 mn monitoring center for the Benban solar park, Al Mal reported. The agreement comes as part of the government\u2019s strategy to develop the energy sector. Construction of the project is expected\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=575244"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575244\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/575245"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575244"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575244"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}