The government launched phase-two of the Feed-in-Tariff (FiT) programme this week that aims at adding 4,000MW of renewable energy for a two-year period, after the government had finalised phase one of the project this week. An earlier report by Al Mal mentioned that 15 local and global companies had notified the Ministry of Electricity and Renewable Energy of their intention to participate in phase two of FiT, which was announced in September. The conditions for the second phase includes that the applicants should achieve financial closure for the project for a maximum of 1-1.5 years,  as well as sourcing 60-70% of the financing from global markets, which varies slightly depending on the energy source being solar or wind. On a similar note, the Ministry had announced the list of companies that have signed PPA agreement with EETC (FiT phase-one), for photovoltaic (PV) solar energy generation, with total capacities of 450 MW and investments of c.USD615mn, which included: Infinity solar, Wadi Degla, CTIP Oil and Gas, Desert technology, Arina Solar, Mag, Scatec solar, Fas, Winergy-Schneider and Elf Energy. (Al Mal, Ministry of Electricity and Renewable Energy)