Saudi Alhokair subsidiary FAS Energy to build $450 mn solar plant in Egypt
Alhokair Group subsidiary FAS Energy is planning to invest some USD 450 mn (SAR 1.7 bn) to construct a 500 MW solar plant in Egypt in partnership with the Electricity Ministry and the Egyptian Electricity Transmission Company (EETC), FAS Energy CEO Sabri Asfour told Enterprise. The firm is in final negotiations on the location of the plant, and hopes to sign […]
ACWA Power, Hassan Allam consortium signs deal for 1.1GW wind project in Egypt worth US$1.5 bn
The 1.1 GW project is one of the largest onshore wind farms in the world and the largest in the Middle East. Agreement signed during HRH Mohammed Bin Salman, Crown Prince of Saudi Arabia’s state visit to Egypt. Project marks ACWA Power’s expansion in the country to three projects. ACWA Power, a leading Saudi developer, investor […]
Egypt, Ajlan & Bros ink $3.3 bn deal to build petroleum storage complex
Ajlan & Bros to build oil storage complex: Saudi conglomerate Ajlan & Bros inked a USD 3.3 bn agreement to build a facility for storing petroleum products with the Egyptian Arab Supply Chain Group Company, according to Arab News. The storage complex made up more than 40% of the value agreements signed with KSA yesterday. The company signed six […]
Chevron signs agreement to drill first its exploration well in Egypt’s Mediterranean
US energy company Chevron is planning to drill the first exploration well in its concession area in the eastern Mediterranean next September, the firm’s president Mike Wirth said. The move comes as the Egyptian Natural Gas Holding Co., or EGAS, signed an initial agreement with the US company to cooperate in the activities of transporting, […]
EFG’s Vortex Energy invested €222 mn in Spanish solar firm Ignis Energia
Vortex Energy has made more than a third of its planned EUR 625 mn investment in Ignis Energia: EFG Hermes’ energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release yesterday. Vortex plans to eventually invest EUR 625 mn in Ignis under an agreement signed with the […]
Elsewedy Electric eyes $1.5 billion investment in African renewables this year
Elsewedy Electric could invest as much as USD 1.5 bn in three renewable energy projects in Africa before the end of the year, CEO Ahmed Elsewedy told us, confirming reports by Hapi Journal. Nothing is set in stone: Elsewedy cautioned that the group’s future plans are still under consideration, adding that no commitments have yet been signed. The push comes as […]
TAQA Arabia acquires Rosetta Energy’s LNG Arm to unlock LNG Market growth in Egypt & Africa
TAQA Arabia, the full-service energy and utility distribution market leader in Egypt, announced the acquisition of Rosetta Energy’s LNG arm to expand its business portfolio in Egypt, Africa and the Middle East. Rosetta is an international energy developer and operator focused on developing the full LNG value chain to supply industrial, commercial, and residential customers […]
Total Eren, Enara Capital to build green ammonia facility in Egypt’s SCZone
Egypt inked a memorandum of understanding with an alliance that includes Total Eren and Africa-focused SME investor Enara Capital to build a green ammonia plant in the Suez Canal Economic Zone (SCZone), according to a cabinet statement. The facility will initially produce 300k tons of ammonia each year and this will increase to 1.5 mn at […]
Wintershall Dea expands interest in the Algerian Reggane Nord gas project
Agreement to acquire additional 11.25% participating interest from Edison Decision is part of plan to grow in Algeria Country with major potential for an enhanced energy partnership with Europe Wintershall Dea continues to strengthen its presence in Algeria. As of 4 May, the company has entered into a sale and purchase agreement to acquire Edison’s […]
Scatec issues green bonds worth $335 mn to refinance projects in Egypt
Norway’s Scatec has issued green bonds worth $335 million to refinance six solar projects in the southern Egyptian city of Aswan, a statement by the Egyptian cabinet issued on Wednesday said. The projects have a capacity of 380 Megawatts, the statement said. Norway’s Scatec will issue USD 335 mn worth of green bonds to refinance […]
