Ten Global Companies Compete for Cairo Solar

Tawfiq: Preparing to Issue a 10 Million EGP Guarantee Letter

Al-Mal – Exclusive:

Hesham Tawfiq, Chairman of Cairo Solar, announced that the company had launched a tender last month for global companies to implement a 50 MW solar power plant with an investment of approximately $76 million (about 580 million EGP). The project will be executed under the renewable energy feed-in tariff system.

In a statement to Al-Mal, Tawfiq revealed that around ten international companies had submitted bids, including two Chinese firms, a British-Indian consortium, two German companies, and others from Spain and Europe. However, he declined to disclose their names. The tender covers the design, supply, and installation of the solar plant in Benban, Aswan.

He added that the winning company would be announced by the end of February. The Norwegian company DNV has been selected as the project consultant, alongside legal and environmental consultants. Tawfiq highlighted that DNV is among the top European firms in the field, ensuring the best international standards for the project, including high-quality solar panels.

Meanwhile, Eng. Faisal Issa, Operations Manager at Solar Shams, stated that the company is preparing to issue a 10 million EGP guarantee letter in favor of the Ministry of Electricity and Renewable Energy.

Issa explained to Al-Mal that this guarantee is part of the cost-sharing agreement signed with the ministry for the company’s participation in renewable energy feed-in tariff projects and their connection to the national grid. So far, the company has paid around 22 million EGP out of a total of 40 million EGP under the agreement.

Dr. Mohamed Sobky, Head of the New and Renewable Energy Authority, noted that 39 out of 136 investors in the renewable energy feed-in tariff program had paid about 30% of the cost-sharing fees required by the Ministry of Electricity. Each investor is expected to contribute 40 million EGP to the project, with a total expected investment of around 1.5 billion EGP. The remaining investors are expected to finalize their agreements with the ministry soon.