Cairo – Mubasher: UAE-based company Masdar Clean Energy has submitted an offer to Egypt's New and Renewable Energy Authority (NREA) to establish 500-megawatt solar photovoltaic (PV) power plants in Egypt.
The offer entails implementing the projects under a build-own-operate (BOO) scheme, while the Egyptian Electricity Transmission Co (EETC) will buy the generated power of the plants at 3.8 Cents per kilowatt/hour, Almal News reported, citing a source at NREA.
NREA is currently considering investment offers worth around $600 million from Vestas Wind Systems, Siemens Gamesa Renewable Energy, General Electric (GE), and other global firms.
