New Facilitations for Investors in New Power Plants

The Egyptian Government presented a series of new facilitations to encourage the domestic private sector and foreign investors to engage in, power plants projects in new and renewable energy sector with the bot system which gives the investor the right of construction, operation, acquisition and sale of energy produced to the national grid to transmit electricity peer-tariff specific for 25 years.

Leila Georgi - Acting Chief Executive Officer of new and renewable energy said to the newspaper yesterday that the package of new the facilitations includes the abolition of customs duties on equipment for wind and solar plants from abroad after it was 5% then 2% until it was cancelled; She added that the government will allow investors to obtain the value of the sale of energy in foreign currency, except for the cost in local currency counterpart operations and maintenance.