Scatec Solar secures guarantees with MIGA for Benban Project in Egypt
Scatec Solar has secured guarantees with the Multilateral Investment Guarantee Agency (MIGA) covering its equity investments in the Benban project, the company said in a statement. The guarantees cover 90% of investments by Scatec Solar for up to 15 years against the risks that it will be unable to legally convert EGP into hard currency […]
BMI: Why Egypt looks set to be regional leader in electricity for next nine years
Fitch Solutions’ BMI Research Egypt Power report on Egypt’s electricity sector is on track to generate an exportable surplus. The report sees Egypt increasing power generation to 265 terawatt hours (TWh) by 2023 from 231.5 TWh this year. This will allow it to generate a surplus even as domestic demand rises to 234.9 TWh by […]
ACWA signs MoU to develop Egypt’s sustainable water desalination sector
ACWA Power signs an MoU with the Ministry of Housing and Egyptian Electricity Holding to develop Egypt’s sustainable water desalination sector. Desalination plants to be powered using renewable energy sources, including solar and wind. In the presence of His Excellency Dr. Mostafa Madbouly, Prime Minister of Egypt, ACWA Power signed a Memorandum of Understanding (MoU) […]
Lekela starts construction of 250 MW West Bakr wind farm in Ras Ghareb, Egypt
Work has now started on the West Bakr wind project site in Ras Ghareb, Egypt. The 250 MW project is being developed by Lekela, an Independent Power Producer (IPP). Construction of the West Bakr wind project is currently underway. Work has recently been launched at a ceremony attended by several Egyptian officials, including the Minister […]
12 companies bidding for Egypt’s 200 MW West Nile Delta solar plant
As many as 12 local and foreign companies are bidding in a tender launched by the Egyptian Electricity Transmission Company (EETC) to build a 200 MW solar plant in the West Nile Delta, the local press reports, quoting unnamed sources. The company’s include the UAE’s Masdar and Alcazar Energy, Saudi Arabia’s Al Fanar, Acwa Power, […]
Vestas awarded tender for Egypt’s Ras Ghareb 250 MW wind plant
The New and Renewable Energy Authority (NREA) has awarded the tender to build Lekela Egypt’s EUR 260 mn, 250 MW wind plant in Ras Ghareb to Danish firm Vestas, sources in the Electricity Ministry told Al Mal. The final contract is expected to be signed this month after the NREA agrees terms with the company. […]
Two companies to conduct studies for 200 MW West Nile solar project
The project carried by an alliance of two companies has just been chosen to carry out the technical and financial studies relating to the implementation of a photovoltaic solar power plant in the West Nile. The installation will have a capacity of 200 MWp. As part of its policy to produce 20% of the country’s […]
German Belectric wins contract for 50 MW solar plant in Zaafarana
The German company Belectric has been selected by the Egyptian authorities to develop the Zafarana solar photovoltaic project. It will supply 50 MWp to the national grid in Egypt. Several companies had been shortlisted for the construction of the future Zafaran solar photovoltaic power plant in the Gulf of Suez in north-eastern Egypt. These included […]
Mubadala-backed Alcazar Energy considers sale of Egypt, Jordan assets
Potential sale is precursor to firm raising another fund. Governments seek to increase renewable-energy sources. Alcazar Energy Ltd., backed by Abu Dhabi’s Mubadala Investment, is preparing the sale of some of their solar and wind assets in Egypt and Jordan, people with knowledge of the matter said. The renewable-energy developer is in talks with banks […]
China’s Gezhouba signs $287.5 mn contract to build solar plants in Egypt
Chinese state-owned construction and engineering company China Gezhouba has secured a USD 287.5 mn contract to build an undisclosed number of solar plants across Egypt with a combined capacity of 500 MW, according to Renewables Now. The agreement is for a period of three years. China Energy Engineering subsidiary to install 500 MW of solar […]
