Actis, Edra looking to acquire Egypt’s Siemens power plant for up to $2 bn
PE firm Actis and Malaysian power company Edra could spend up to USD 2 bn to acquire one of our Siemens-built power plants. Actis, Edra eye Siemens power plant: Private equity outfit Actis and Malaysian power company Edra have renewed their interest in acquiring one of the three Siemens-built power plants in a transactionthat could be worth USD 2 bn, Bloomberg reported Thursday, citing anonymous […]
Siemens, Desert Technologies JV to invest $25 mn in solar energy, acquisitions in Egypt
Siemens-backed JV to invest USD 25 mn in Egypt’s solar infrastructure: Capton Energy — a newly established joint venture between Siemens’ financing arm, Siemens Financial Services, and Saudi-based solar energy firm Desert Technologies — plans to invest USD 25 mn in new and existing solar energy projects in Egypt in a first stage, Al Borsa quotes Desert Technologies’ […]
Egypt, Siemens agree to start studies for green hydrogen production project
Siemens will work on a pilot project to produce green hydrogen in Egypt after signing a MoU with the Electricity Ministry on Thursday, according to a press release. Egypt is currently exploring green hydrogen as an alternative energy source, and will be integrated into the government’s 2035 energy strategy, according to the statement. Siemens has […]
Siemens, Hassan Allam awarded tender for New Capital control center
Siemens, Hassan Allam beat State Grid, Huawei in new capital control center tender: A Siemens-Hassan Allam consortium has been awarded the tender to construct an electricity control center in the new administrative capital, beating out Chinese state-owned utility company State Grid, tech giant Huawei, and Orascom Construction, Al Mal reports. The tender will see the […]
Siemens: Digital scale-up can keep oil and gas fields running, even remotely
By Denis Voloder; Senior Executive Vice President, Head of Oil & Gas Onshore Solutions at Siemens. For the upstream oil and gas industry, the past couple of months have been significantly challenging. Through greater adoption of the digital platforms and applications, producers will have a better chance of surviving the current challenges and enable the […]
Siemens, Total partner to advance low-emissions LNG production
Siemens Gas and Power has entered into an agreement with Total, a broad energy group, to advance new concepts for green liquified natural gas (LNG) production. As part of the contract, Siemens Gas and Power is conducting studies to explore a variety of possible liquefaction and power generation plant designs, with the ultimate goal of […]
Egypt’s offshore prospects are even greater with the right technology – Siemens
Article by Siva Krishnan; Vice President, Middle East & North Africa – Siemens Oil & Gas. Egypt is on the verge of transitioning from a net importer of gas into a regional gas hub, thanks to massive offshore discoveries in the Eastern Mediterranean. But abundance is only part of the equation – Egypt’s golden gas […]
Siemens to modernize offshore jack-up rig for Arabian Drilling Company
German conglomerate Siemens has been awarded a contract by Arabian Drilling Company to modernize an offshore jack-up drilling rig for a customer in the Middle East. Siemens said that the upgrade of the rig’s integrated drilling-drives lineup, including auxiliaries, and controls would enable the customer to meet the latest safety standards. Delivery of the new […]
HSBC frontrunner to advise Sovereign Fund on Siemens plant stake sale
Sovereign fund to tap HSBC as advisor on combined-cycle plant stake sale? HSBC is reportedly the frontrunner to advise the Sovereign Fund of Egypt on the sale of a 70% stake in the first of three Siemens / Elsewedy Electric / Orascom Construction combined-cycle power plants, Hapi Journal reports. Previous domestic press reports had indicated […]
Actis, Engie, Datang are all in running for stake in Egypt’s Siemens plants
More details on potential investors in Egypt’s Siemens combined-cycle power plants: Actis, France’s Engie, and China Datang Overseas Investment are all competing alongside Blackstone’s Zarou to acquire a stake in the Siemens / Orascom Construction / Elsewedy Electric combined-cycle power plants, according to Bloomberg. Sources in the Electricity Ministry had said earlier this week that […]
