Newsletter subscribe
Tag: EBRD
KarmSolar

KarmSolar, EBRD sign mandate for financing 10MW solar station in Egypt

Posted: October 30, 2018 at 4:33 pm   /   Renewables

KarmSolar, EBRD sign mandate letter for financing 10MW solar station under Power Purchase Agreement for Egyptian private off taker. KarmSolar and the European Bank for Reconstruction and Development (EBRD) signed a mandate letter today through which the EBRD will study the financing of a 10MWs solar station of KarmSolar’s Power Purchase Agreements with one of […]

No Comments read more
Solar

Egypt receives two bids under $0.03/kWh for 200 MW Kom Ombo solar project

Posted: August 11, 2018 at 8:34 pm   /   Renewables

The lowest bid was submitted by Spanish developer Fotowatio, which offered US$0.02791 per kWh. Slightly higher, at $0.02799 per kWh, was the offer of Saudi power company, ACWA. The Egyptian Electricity Transmission Company (EETC) will review six bids for the 200 MW Kom Ombo solar PV project in Egypt, according to a press release issued […]

No Comments read more
Suez Refinery

EBRD finances upgrade of Egypt’s Suez oil refinery

Posted: May 25, 2018 at 2:22 pm   /   Oil & Gas

The European Bank for Reconstruction & Development (EBRD) is providing a $200-million loan to state-owned Egyptian General Petroleum Corp. subsidiary Suez Oil Processing Co. (SOPC) for the upgrade of its 68,000-b/d refinery adjacent to Suez, Egypt, at the entrance of the Suez Canal. ERBD funds will finance investments to modernize the refinery with technical updates […]

No Comments read more
EBRD

EBRD lends SOPC $200 million to finance energy efficiency program

Posted: May 23, 2018 at 3:31 pm   /   Oil & Gas

Egypt signed yesterday a USD 200 million loan agreement with the European Bank for Reconstruction and Development (EBRD) for the Suez Oil Processing Company (SOPC) to finance the company’s energy efficiency investments, including its Green Economy Transition approach, according to an Investment Ministry statement. “In particular, the Project will focus on the installation of a […]

No Comments read more

Egypt inaugurates first phase of 1.8 GW Benban solar park

Posted: March 16, 2018 at 2:05 pm   /   Renewables

Infinity Solar inaugurated its 50 MW power plant as part of Benban solar park. Egypt’s Minister of Electricity Mohamed Shaker inaugurated on Tuesday the first phase of Egypt’s Benban solar park in Aswan, set to be largest in the world upon completion at 1.8 GW total capacity, Arabic Ahram news website reported. The event marks […]

No Comments read more

Benban solar power complex wins Thomson Reuters’ Project Finance International Award

Posted: February 9, 2018 at 8:29 pm   /   Renewables

Egypt’s solar power complex Benban, located near Aswan, set to become the largest solar park in the world, won on Wednesday the Thomson Reuters’ project Finance International Award for “Global Multilateral of the Year,” Zulficar & Partners, a law firm that advised the Egyptian Electricity Transmission Company (EETC) on the project agreements, said in a […]

No Comments read more

EBRD to loan Suez Oil Processing Co. $200 milion

Posted: February 5, 2018 at 4:50 pm   /   Oil & Gas

The European Bank for Reconstruction and Development (EBRD) is provisioning a USD 200 million loan to the Suez Oil Processing Company (SOPC) “to finance a package of energy efficiency investments and other refurbishments and installations at the Suez refinery,” according to the EBRD project website. The loan is classified as a sovereign loan to Egypt […]

No Comments read more

Egypt's gas transmission strategy (Petroleum Economist)

Posted: January 13, 2018 at 6:58 pm   /   Oil & Gas

With natural gas from the super-giant Zohr field now flowing ashore, plans are in place to make distribution of the fuel more efficient and to expand wind power. For the Egyptian government, 20 December 2017 was a red-letter day. It was when Eni produced first gas from the Zohr field 190km (118 miles) from the […]

No Comments read more

EBRD provides $200 million loan to develop Egypt’s gas infrastructure

Posted: December 30, 2017 at 6:07 pm   /   Oil & Gas

The EBRD is providing a US$200 million loan to the Arab Republic of Egypt to finance the modernisation of selected gas infrastructure facilities, which shall improve energy efficiency and reduce impacts on the environment. Egypt has an energy intensive economy compared to its neighbouring regional countries, making it among the top five greenhouse gas (GHG) […]

No Comments read more

Egypt: Clearer thinking (Petroleum Economist)

Posted: December 17, 2017 at 7:16 pm   /   Oil & Gas

The country has committed itself to reducing the volume of associated gas that’s flared at oilfields. No visitor to Cairo or any other city in Egypt can help noticing the air pollution—the perennial smog that chokes the lungs as much as it obscures the view of the Pyramids and other tourist sites. While there’s no […]

No Comments read more