Power Generation News

April 2017

EETC to sign EGP 18 bn loan agreement with NBE, Banque Misr this week

EETC is expected to sign the previously announced EGP 18 bn loan with the National Bank of Egypt and Banque Misr this week, EETC Chairman, Eng. Gamal Abdel Rehim tells Al Borsa. The loan is one of two the banks are arranging to fund expansions to handle the additional 18 GW production capacity that shall be added to the grid by 2018. Cabinet has approved the arrangement that the Ministry of Finance and Central Bank of Egypt shall pay the loan interest, while EETC pays the original value of the loan.

Alborsa news

April 2017

Dabaa Contract Signature Expected in May 2017

A source in the Nuclear Power Plant Authority (NPPA) has stated to Al- Shorouk Newspaper that Dabaa Nuclear Power Plant Project is expected to be signed within May 2017. He confirmed that all related contracts are ready for signature with the Russian side to start construction of the first phase of 4800MW.

The source has confirmed that the 4 related contracts are
1- Construction contract.
2- Nuclear fuel supply contract for 60 Years
3- Nuclear fuel reuse contract
4- O&M contract

ROSATOM was selected to build the plant utilizing the third generation proven technology reactor model VVER-1200.

http://www.shorouknews.com/news/view.aspx?cdate=19042017&id=720d9130-3326-4328-a32a-4c0d727b8ef8

April 2017

Dabaa NPP Project Signature Time Depends On Egyptian Side

VIENNA (Sputnik) - The terms of signing the Russian-Egyptian comprehensive contract for the construction of Egypt's first Dabaa nuclear power plant depend on Cairo, Moscow is ready for signing now, the general director of the Rosatom state corporation, Alexey Likhachev, told reporters Wednesday.

https://sputniknews.com/world/201704191052773074-russia-egypt-npp/

April 2017

Cabinet Approval Of EETC's Power Purchase Agreements (PPA) Sovereign Guarantee by Ministry Of Financ

In support of Egypt's plan for developing the power generation capacity of its electrical national network, the Cabinet has agreed on the "Ministry Of Finance" Sovereign Guarantee for the Egyptian Electricity Transmission Company (EETC) annual commitments of the Power Purchase Agreements (PPA) of:
- Dairut combined cycle power plant project
- Ayoun Moussa coal fired power plant
- 250MW wind power plant at Suez gulf area.

April 2017

In support of Egypt's plan for developing the power generation capacity of its electrical national network, the Cabinet has agreed on the "Ministry Of Finance" Sovereign Guarantee for the Egyptian Electricity Transmission Company (EETC) annual commitments of the Power Purchase Agreements (PPA) of:
- Dairut combined cycle power plant project
- Ayoun Moussa coal fired power plant
- 250MW wind power plant at Suez gulf area.

April 2017

EETC signed a 25-year PPA with Scatec Solar for six solar power plants

Norwegian company Scatec Solar has signed a 25-year power purchase deal with the Egyptian government for the supply of energy from six solar plants with a combined generation capacity of 400MW. The plants capital cost is around $450m.
Scatec equity contribution shall be between $50m and $70m with partners including local developers and KLP Norfund Investments. Additional equity partners could be added before financial close.
The European Bank for Reconstruction and Development EBRD is leading a consortium of banks that is expected to offer debt funding of up to $350m.

http://renews.biz/106721/scatec-inks-egypt-solar-deal/

April 2017

Network link (substation and transmission lines) Egypt and Saudi Arabia Link bid opening Planned Apr

Egyptian (EETC) and Saudi (SEC) to receive bids for Substations and Transmission Lines for the interconnection project between the two counties on April 16 and 19, 2017.
Bids for the "Madina" and "Tabuk" Substations will be opened by the Saudi side on April 16, while the tender for Transmission lines "Badr - Nabq" will be will be opened in Egypt on April 19.
Alstom, ABB, and Siemens are among the bidding contenders. The Ministry of Electricity's spokesman Mr. Ayman Hamza announced last month that the initial operation for electricity interconnection with Saudi Arabia is scheduled in 2019 to exchange 3,000MW at peak time.

http://enterprise.press/stories/2017/04/05/egypt-ksa-to-decide-on-winners-of-saudi-egypt-electricity-interconnection-project-on-16-april/

April 2017

General Electric requests Egyptian Power Production Companies for $ 100 million maintenance dues

GE requested EEHC for the payment of $100 million representing the company's dues for the maintenance and overhauling works in power plants. Sources in the Ministry of Electricity told Al-Borsa newspaper that the ministry had earlier signed a long-term maintenance and modernization contract with General Electric Company for of power generation plants.
Payments of these due invoices shall be settled through a financing agreement under discussion between the electricity production companies and a number of banks to finance maintenance programs.

Alborsa news

March 2017

EUR 115 million from EIB to finance a windfarm at Gulf of Suez

The EIB and the Arab Republic of Egypt signed a loan agreement of EUR 115 million for financing a wind-farm in the Gulf of Suez to further expand energy generation from renewable resources. The wind-farm will contribute to meet growing electricity demand using sustainable wind energy.
In the presence of Dr. Sahar Nasr, Minister of Investment and International Cooperation and European Union Delegation Charge d'Affairs, Reinhold Brender, the financing agreements were signed in Cairo today by Mr. Heinz Olbers, EIB Director of operations in the Neighborhood Countries and Dr. Engineer Mohamed Mousa Omran Executive Chairman of New and Renewable Energy Authority.

The Gulf of Suez wind-farm project involves the design, construction and commissioning of a large-size onshore wind farm of about 200MW located on the west bank of the Gulf of Suez, some 400 km southeast of Cairo with up to 100 turbines will be installed. The site, of a size of around about 57 km2, is characterized by its arid desert conditions and has very favorable wind resources.
The project is financed by European Finance Institutions; European Investment Bank (EUR 115 million), KfW (EUR 72 million, including a EUR10.5m grant), Agence Francaise de Developpement (EUR 50 million) and the New and Renewable Energy Authority. The European Commission provides a grant of EUR 30 million to the project.

http://www.eib.org/infocentre/press/releases/all/2017/2017-084-strong-eib-commitment-in-support-of-renewable-energy-new-eur-115-million-financing-for-a-windfarm-in-egypt.htm

March 2017

EETC Postpones Tender for seven 500kV and one 220kV Substations

EETC decided to postpone the tenders for eight substations at a cost of $370m, until it obtains the first tranche of the $18bn loan from the National Bank of Egypt.
The substations are East Sohag 500, Qena 500, Zagazig, 500, Administrative Capital 500, Kafr El Sheikh 500, Qena 500, Zagazig 500 and Bilbes 220 This tender is part of the EETC's plan to support the national grid to accommodate the new generation capacities that will soon be added to the grid.

dailynewsegypt