Cairo - Mubasher: Orascom Telecom Media and Technology Holding (OTMT) said Thursday that its, fully owned subsidiary, O Capital for Energy has signed the Cost Sharing Agreement with the Egyptian Electricity Transmission Co. (EETC) and the New and Renewable Energy Authority (NREA) under the feed-in Tariff (FIT) program solar PV in the Benban project.
Through this agreement, OTMT will take part in the FiT Program by designing, procuring, constructing, erecting, installing, testing, commissioning, financing, owning, operating and maintaining its solar energy power plant project in Binban.
Meanwhile, the agreement entails the rights and obligations in respect of the project’s relevant infrastructure works and OTMT’s obligation to pay its share of the cost of constructing the infrastructure works in exchange for the right to participate in the FIT Program.
OTMT said it considers this agreement as its gateway into a promising renewable energy sector in Egypt.
