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Tag: EBRD

EBRD approves $500 million for private renewable projects in Egypt

Posted: June 11, 2017 at 5:46 pm   /   Renewables

The European Bank for Reconstruction and Development (EBRD) has taken a major step forward in the rollout of renewable energy with the approval of a US$ 500 million framework to finance renewable energy in Egypt. The financing, approved by the EBRD’s Board of Directors on 7 June 2017, supports the development of private renewable energy […]

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EBRD finances $11 million environmental upgrade of Egypt’s Carbon Holdings

Posted: May 14, 2017 at 7:47 pm   /   Oil & Gas

New investments will help local petrochemicals producer reduce N2O emissions. As part of its drive to help the Egyptian economy move to more environmentally friendly ways of production, the EBRD is providing local petrochemicals producer Carbon Holdings with a US$ 11 million loan. The funds will be used to improve standards beyond the current industry […]

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Egypt signs finance agreement for Sonker’s Ain Sokhna terminal

Posted: May 7, 2017 at 5:50 pm   /   Oil & Gas

The government signed an agreement activating the financing of Sonker’s liquid bulk terminal in Ain Sokhna, Al Masry Al Youm reported. Sonker is investing USD 500 mn to construct and operate a bulk-liquids terminal for the import and storage of gasoil and LPG in the third basin of Ain Sokhna Port. USD 320 mn of […]

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Egypt to boost use of renewable energy to 22% by 2020

Posted: April 20, 2017 at 2:27 pm   /   Renewables

Egypt aims to increase its use of renewable energy to 22 percent by 2020, the country’s Investment and International Cooperation Minister Sahar Nasr told Regional Director of Norway’s Scatec Solar Morten Langsholdt during a Cairo meeting on Sunday. According to an official press release by the ministry, Nasr told Langsholdt that Egypt is keen on […]

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Scatec Solar and partners sign Power Purchase Agreements for 400 MW in Egypt

Posted: April 20, 2017 at 2:13 pm   /   Renewables

Scatec Solar and partners have signed 25-year Power Purchase Agreements for delivery of electricity from six solar plants totaling 400 MW (DC) with the Government of Egypt. The signing ceremony took place in Cairo on April 13 in the presence of Egyptian Minister of Electricity and Renewable Energy Dr. Mohamed Shaker El-Markabi and the Ambassador […]

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Gas in the Eastern Mediterranean: "pragmatism" is the watchword (ABO.net)

Posted: November 10, 2016 at 2:07 pm   /   Oil & Gas

By Nicoló Sartori. While it is clear to many that gas in the Eastern Mediterranean is an opportunity for the entire region, it is equally clear that concrete initiatives on the industrial plan must be launched in adequate times and manner. In recent years, the development of gas reserves in the Eastern Mediterranean has fueled […]

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EBRD Egypt Solar

Scatec Solar hoping for compromise deal to keep Egypt solar scheme

Posted: August 17, 2016 at 4:13 pm   /   Renewables

A group of developers, including Scatec Solar, are renegotiating the terms of their power purchase agreements (PPA) with the Egyptian government in an effort to keep them on the existing timetable. Enel Green Power had previously confirmed that it had put its operations in the country on hold. A second consortium that won capacity in […]

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EBRD offers SUMED $100 million in funding

Posted: August 15, 2016 at 8:24 pm   /   Oil & Gas

The European Bank for Reconstruction and Development (EBRD) has offered the Arab Petroleum Pipelines Company (SUMED) USD 100 mn in funding to build a pier and facilities to handle petroleum products at Ain Sokhna, according to Al Mal. The loan of offer reportedly carries a 10-year maturity. SUMED has recently signed a funding agreement worth […]

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Scatec Solar to invest $650 million in 5 solar energy projects in Egypt

Posted: May 10, 2016 at 12:29 pm   /   Renewables

Negotiations with seven international banks to finance 70% of the project, most notably IFC and EBRD. Scatec Solar company seeks to pump $650m in renewable energy investments to establish five solar energy projects with a capacity of 250 MW, according to the company’s CEO Raymond Carlsen. Carlsen sat down for an interview with Daily News […]

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EBRD: $341 million loan to upgrade Egypt’s oil and gas infrastructure

Posted: February 7, 2016 at 2:43 pm   /   Oil & Gas

The European Bank for Reconstruction and Development (EBRD): The funds will be used to construct and operate a bulk-liquids terminal. A US$ 341 million facility to Sonker, an Egyptian company providing hydrocarbon storage and bunkering, will support a significant upgrade of the country’s oil and gas infrastructure and will contribute to the energy security of […]

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