Hot on the heels of the long-awaited release of definitive guidelines on SPV incorporation (on which we reported on 7 April), the Egyptian Electricity Transmission Company has released discussion drafts of the major project documents proposed for Egypt’s renewable feed in tariff. This programme was launched at the end of 2014 and the first round of bidders was prequalified almost immediately thereafter. Those prequalified bidders are now gearing up to execute their projects – and it is becoming increasingly apparent that this will require them to move with some rapidity. (more…)
WE KNOW ENERGY®
Egypt’s Egyptian Electric Utility and Consumer Protection Regulatory Agency – EgyptERA – has issued its long-awaited guidelines on special purpose vehicle incorporation. These guidelines are identical to the draft guidelines on which we reported on 24 March.
As expected, the guidelines permit a prequalified developer to hold equity sufficient to build up to 100MW per substation and in each of the solar and wind programmes. It is understood that there will be four separate solar project substations and five separate wind project substations. Therefore, a single qualified developer could theoretically hold up to 400MW worth of solar projects and up to 500MW of wind projects in the programme. (more…)
Egypt’s Egyptian Electric Utility and Consumer Protection Regulatory Agency is expected to issue long-awaited guidelines on special purpose vehicle incorporation. In recent days it has emerged that these guidelines will be more flexible than previously expected. This is expected to be particularly welcome news to prequalified developers interested in participating in multiple projects within the feed In tariff programme.
However, it is expected that the rules will require developers seeking to maximise their participation in the program to act quickly. (more…)
Bracewell & Giuliani
On Thursday, 5 March, Bracewell & Giuliani, Shalakany Law Office and the Middle East Solar Industry Association hosted a webinar: Alternating Currents – the latest on Egypt’s Feed In Tariff for Renewable Power.
A distinguished panel discussed the FiT program and in particular, the guidelines on SPV formation and other issues just minutes after they were made available to prequalified bidders.
A recording of this webinar is available here.
Clint Steyn, Robert Harker and Simon Stevens
Egypt’s renewable Feed In Tariff (FiT) continues to take shape, albeit at a slightly reduced speed than expected earlier. Happily, the additional time appears to be being used to respond to constructive comments from developers and other stakeholders. It is also expected that some clarifications will be issued in writing. Developers are reporting that up to now many details are only emerging verbally in face to face meetings, which many have found somewhat frustrating. (more…)
Tracy London and Tom Swarbrick
West Africa is a land of opportunity, home to some of the richest oil and mineral resources in the world. The rush for the region’s oil, gold, iron and other commodities has driven economic growth at a faster rate than anywhere else in Africa.
Yet West Africa’s bountiful wealth may also be limiting its development potential. The increasing demand from industry is placing enormous strain on an aging and inadequate infrastructure, with installation of new capacity hampered by inefficiency and poor governance.
With population growth now outstripping the rate of new supply, it seems unlikely that West Africa’s energy demands can be met solely by development of national or international grids. In this article, we consider the energy challenges facing the region, the role of the West African Power Pool and the potential of off-grid development to provide renewable, reliable energy supply beyond the grid. (more…)