China’s Nari Solar Energy Technology and Spain’s TSK Group are competing on the tender launched by the New and Renewable Energy Authority (NREA) to establish a solar power plant in Kom Ombo, Aswan, with a capacity of 26 MW.
NREA sources told Daily News Egypt that the companies have presented their letters of guarantee worth €500,000, while the three other companies that qualified in a previous tender did not submit their letters, namely, Shanghai Electric, TBEA, and Sterling and Wilson Pvt. Ltd.
The sources added that TBEA was two days late in depositing the value of the letters of guarantee and asked the NREA to allow it three additional days in extension of the deadline. Yet, the NREA officials denied such claims.
Shanghai Electric and Sterling and Wilson Pvt. Ltd. did not disclose reasons for failing to provide the letter, though indicators point to being committed to many projects in the past period.
The NREA had agreed with DNV KEMA and ERCC to prepare the technical and economic studies, as well as the environmental impact assessment of the project.
The sources pointed out that Agence Française de Développement (AFD) will provide a loan of €40m to finance the project. The funding includes a renovation of the infrastructure and a contract for the operation and maintenance of the plant for three years, as well as a training programme. The project consists of photovoltaic cells that convert solar light into direct current, as well as inverters that convert direct current into alternate current. The winning company will establish the project in the first quarter of the coming year.