New agreement ends Benban’s cost-sharing dispute

Egypt’s Benban park obtained a reduced cost-sharing bill

  
The sun shines over high-voltage power lines and electricity pylons at a highway front of the solar park of Benban plant in Aswan, Egypt, November 17, 2019.

The sun shines over high-voltage power lines and electricity pylons at a highway front of the solar park of Benban plant in Aswan, Egypt, November 17, 2019.

REUTERS/Amr Abdallah Dalsh
ArabFinance: The 32 solar developers taking part in Egypt’s Benban park obtained a reduced cost-sharing bill, Al Borsa News reported on December 1st.

This step followed an agreement between the Egyptian Electricity Transmission Company (EETC) and the operating companies, according to unnamed sources.

The bill will now stand at EGP 1.6 billion, which will be paid across six installments over a five-year period, according to the news portal.

The reduced amount reportedly totaled EGP 300 million.

Last October, the involved parties reached an agreement to solve the dispute, however, the EETC legal affairs department was yet to review and ratify the proposal back then.

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