KarmSolar signs EGP 230 million loan agreement with Banque Misr
KarmSolar has signed a EGP 230 mn loan agreement with Banque Misr to build 24 MW solar power plants, CEO Ahmed Zahran told the local press. Zahran did not say how many plants the company will establish with the money. KarmSolar is also in talks with five local and international banks for a EGP 1 […]
Egypt’s Renewable Energy IPP Model – by Shehata & Partners Law Firm
In Egypt, an independent power plant (“IPP“) may, subject to applying for and successfully being granted a generation license, sell electricity to private consumers under two different schemes; the net-metering scheme and the wheeling scheme. Both schemes are regulated by EgyptERA and involve the relevant network operator, being the relevant DisCo, or EETC (concerning the […]
Lightsource BP eyes projects worth $8 billion amid expansion plans
BP’s solar energy arm eyes $8 billion worth of projects amid expansion plans. Lightsource BP, in which the major took a 43 per cent stake in 2017 eyes possible expansion in China and Australia – Lightsource BP chief executive Nick Boyle said he was targetting 10GW capacity build-up by 2023. Lightsource, the solar arm of […]
Revolta to set up Egypt’s first EV manufacturing, maintenance facility
Revolta ties up with Ukrainian firm Eco Factory for Egypt’s new green project. Revolta Egypt, a developer of electric vehicle (EV) charging stations and related projects, is planning to launch the first EV manufacturing factory and maintenance centre in the country. Revolta has tied up with Ukrainian firm Eco Factory to set up the factory […]
Vodafone looking to invest in renewable energy projects in Egypt
Vodafone Egypt is looking to invest in renewable energy projects and smart technology in Egypt, CEO Alexandre Froment-Curtil said in a meeting with Electricity Minister Mohamed Shaker. The meeting comes in light of government efforts to push for renewable energy to cover 20% of the country’s needs by 2022 and over 42% by 2035. (Source: […]
Scatec Solar begins commercial operation of its fourth Benban plant
Scatec Solar reaches commercial operation for its fourth 65 MW power plant in Egypt: Scatec Solar and partners have grid connected and reached commercial operation for another 65 MW of the 390 MW Benban project in Egypt. Scatec Solar now has 260 MW in operation in Egypt and expects to have completed the remaining two […]
EBRD provides $252 million loan for 250 MW wind farm in Gulf of Suez
EBRD, IFC and OPIC providing US$ 252 million loan to a project company owned by Lekela Power BV Funds will finance 250MW wind farm in the Gulf of Suez Clean energy expected to reduce CO2 emissions by 550,000 tons per year The European Bank for Reconstruction and Development (EBRD) is stepping up its support for […]
German ib vogt completes three PV solar plants at Benban complex
Ib Vogt begins commercial operation of three solar plants at Benban German solar project development company Ib Vogt has begun commercial operation of three solar power plants with a combined capacity of 166.5 MW at the Benban solar complex near Aswan, the company announced in a statement. The plants were awarded under the second round […]
GE, EETC sign agreement for Benban Solar Park Monitoring Center
The Egyptian Electricity Transmission Company (EETC) and General Electric (GE) have signed an agreement to establish an EGP 89 million monitoring center for the Benban solar park, Al Mal reported. The agreement comes as part of the government’s strategy to develop the energy sector. Construction of the project is expected to take eight months. (Source: […]
Egypt signs cooperation MoU with the US Department of Energy
Egypt’s Ministry of Petroleum and Mineral Wealth and Ministry of Electricity and Renewable Energy signed on Thursday with the US Department of Energy a memorandum of understanding on cooperation in the field of energy. The MoU was signed by Minister of Oil Tarek El-Molla, as a representative of both the Egyptian ministries, along with US […]
