Credit crunch stalls solar energy deals

Lack of credit in the market is likely to see the deadline for the installation and operation of photovoltaics to the capacity of 200 megawatts being missed.

Projects linked to contracts signed for the sale of electrical energy to grid operator DESMIE for the February-August 2010 period will have to be constructed within 18 months according to law in order for investors to receive the agreed fixed rates.

However DESMIE notes that the projects have not yet started, which means they will not be ready by February 2012. They will therefore be added to projects totaling another 1,500 MW that have also missed their deadlines.

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