Besides the positive effect a higher rate of price increase will have on
the project’s NPV there is also the effect of the new Electricity Law. In fact this law imposes higher electricity tariff on all industrial customers by gradually removing the subsidies on electricity starting in the first phase with the large
industrial customers(over the period 2011–2014) and then followed by medium sized industries in the second phase (from 2014 to 2017) and by 2020 all customers categories should be subject to unsubsidized prices
[41]. Accordingly under unsubsidized electricity price, the investment in the wind project will prove to be even more financially sound then Scenario two and three as any assumed annual rate of increase should take effect in the future on higher prices than the price used in this financial analysis (33.4 piaster/kWh) which is a subsidized price.