SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ministry of Electricity negotiates with four consulting firms to establish substations in Aswan
Payment of cost-sharing third instalment postponed until completion of contract with the consultant
Published in Daily News Egypt on 03 - 07 - 2016

The Ministry of Electricity and Renewable Energy is negotiating with four consulting firms to prepare reports on the construction of four substations to transfer energy produced from solar plants to be launched in Benban, Aswan.
The ministry has decided to postpone the payment of the third instalment of the cost-sharing agreement of solar energy projects in Benban until completion of the contract with the consultant.
A source at the ministry said that investors are supposed to pay the value of the third instalment of cost-sharing, which amounts to $10m this month. The instalment has been postponed 30 days until completion of the contract with the consultant and preparation of achievement reports of the construction of substations.
The source told Daily News Egypt that the ministry is negotiating with four consulting firms to prepare reports, especially as investors are paying instalments of cost-sharing based on executive business volume. He added that XD-EGEMAC, implementer of substations, completed all civil works of the establishment of stations.
He explained that investors have paid the first and second instalments of cost-sharing and provided letters of guarantee from the bank for the remaining amount so that the Egyptian Electricity Transmission Company (EETC) can repay the value of the substations.
Cost-sharing is one of the five agreements that eligible investors signed for the establishment of new and renewable energy feed-in tariff projects. Cost-sharing includes sharing the expenses of connecting solar power plant stations (to be launched by the national electricity network) with infrastructure work in the Benban region by using the feed-in tariff.
Companies that obtained lands to establish solar power plants in Benban paid off about EGP 20m of a total EGP 32m for each company. These expenses are for connecting power plants to the network, besides additional expenses of 12.5%.
The source also said that XD-EGEMAC is completing the launch of four substations to transfer energy produced from solar plants in Benban. Payment of the amounts by cost-sharing investors was repaid.
XD-EGEMAC will launch 12 substations of 175 MVA and will install nine units in Benban stations 1, 2, and 4 in addition to 12 units in station 3.


Clic here to read the story from its source.