Infinity Solar has asked the ministry of electricity to approve the construction of 300MW solar power plants at investments of up to $300m.
Hisham El-Gamal, director general of Public Relations and Communications at the company, told Daily News Egypt that the ministry of electricity has agreed to the establishment of solar power plants with a total capacity of 100MW on an independent power producer (IPP) system, adding that the company has requested to increase capacities to 400MW.
He explained that the company plans to expand the construction of plants to produce electricity from solar and wind stations on an IPP scheme next year, with funding from foreign banks that contributed to lending the company to implement its projects in the feed-in tariff programme.
He said that Infinity has developed a long-term plan to invest in the new and renewable energy sector in Egypt and seeks to implement plants to generate electricity from renewable sources and sell them directly to consumers.
The IPP system is among the programmes introduced by the ministry of electricity to help the private sector implement renewable energy projects, where energy is sold directly to consumers while companies pay for the use of the electric grid.
He added that Infinity Solar will connect two solar plants, Bseb and Phoenix, with a capacity of 100MW on the national electricity grid within weeks. It also completed the implementation of a 3MW solar plant. By linking these projects, the company will finalise all its projects in the second phase of the feed-in tariff programme.
Infinity Solar is the first company to complete the implementation of its solar power plants under the first and second phase of the feed-in tariff programme.
Infinity started its work in the electricity and energy sector in 2012, providing devices and generators with batteries to counteract the current disruptions.
Over time, the company developed its solutions and began submitting its documents to the New and Renewable Energy Authority to qualify for solar energy projects. It signed a contract for the implementation of a 50MW feed-in tariff programme and then contracted other projects with a capacity of 130MW in the second phase.