Egypt to fix feed-in tariff for renewable energy
Egypt will fix feed-in tariffs for renewable energy in order to encourage private investors to pour money into the underdeveloped sector in Egypt.
"Feed-in tariffs will be implemented soon but I cannot tell exactly when," Hafez Salmawi, managing director of Egyptian Electric Utility and Consumer Protection Regulatory, told Ahram Online.
Hafez explains that in the first phase, the government will fix a special price for investors that will then be reflected on consumer prices.
In a speech Saturday, Egyptian President Abdel-Fattah El-Sisi said that electricity production and distribution were not developed enough to keep up with consumption.
He estimated that Egypt needs 2,500 megawatts annually for the next five years to meet rising demands, at a total cost of $12.5 billion.