Siemens Gamesa acquires 97% of wind energy market share in Egypt
Siemens Gamesa Renewable: The largest wind energy company in Egypt. The company acquires 97% of the market share of wind energy in Egypt and 53% in Africa. Gabel El Zayt and Zaafarana are the largest projects in the Egyptian market and the company contributes 986 MW of wind energy in Egypt to date. Siemens is […]
KarmSolar, EBRD sign mandate for financing 10MW solar station in Egypt
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 […]
Enara to invest $200 million on solar projects in Egypt with 200 MW capacity
Sherif El-Gabaly, chairperson of Enara Capital, said that they are negotiating with the government to implement solar power plants with a capacity of 200MW and investments worth $200m. This is along with the projects that the company is implementing in Benban, Aswan, in the feed-in tariff projects. He explained that the projects will be established […]
IRENA: Egypt can generate over 50% of its electricity with renewable energy
IRENA’s new ‘Egypt Renewable Energy Outlook’ report shows renewables could present cost savings of USD 900 million annually. Egypt has the potential to generate up to 53 per cent of its electricity from renewable sources by 2030, according to a new report by the International Renewable Energy Agency (IRENA). The Egypt Renewable Energy Outlook report, released at a high-level conference in Cairo […]
IRENA’s Director meets President Sisi to discuss Egypt’s energy future
Mr. Adnan Z. Amin, Director-General of the International Renewable Energy Agency met Egyptian President Abdel Fattah el-Sisi yesterday during a high-level visit to the country. Mr. Amin was in Cairo to launch the Agency’s Renewable Energy Outlook: Egypt report, during the first Egypt Renewable Energy Conference co-organised by IRENA, the Ministry of Electricity and Renewable Energy, and the […]
Blackstone launches new MENA focused Energy Development Company
Private Equity Funds managed by Blackstone today announced a partnership with an experienced management team, led by Sameh Shenouda, the former Head of Infrastructure Equity Investments at CDC Group, the UK government-owned Development Finance Institution (DFI) , to create Zarou, a company fully owned by Blackstone. Zarou will develop, finance, construct and operate energy-related projects […]
Egypt signs €20 mn deal with Spain’s TSK for Kom Ombo solar park
Egypt’s New and Renewable Energy Authority NREA and the Spanish energy giant TSK Grupo signed on Thursday a contract to set up a 26 MW photovoltaic plant, also known as a solar park, in Kom Ombo in Aswan, Upper Egypt, valued at a total of 20 million euros. “The plant will be built over an […]
KarmSolar to raise EGP 500 million for first phase of expansion plan
Attijari Finances signs an agreement with KarmSolar to act as Advisor and coordinator for the fastest growing Egyptian solar energy company. KarmSolar, Egypt’s fastest growing solar energy solutions company, has signed an agreement with Attijari Finances to act as KarmSolar’s global advisor and coordinator for the company’s equity fundraising process. This move comes as part […]
TAQA Arabia, Hassan Allam break ground on EGP 1.35 bn Benban solar plant
Qalaa Holdings subsidiary TAQA Arabia and Hassan Allam Holding have begun constructing their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex, Qalaa said in a statement to the EGX. The project is being finance by five international institutions, including the International Finance Corporation IFC, according to the statement. The power plant […]
Egypt receives two bids under $0.03/kWh for 200 MW Kom Ombo solar project
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 […]
