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Egypt Renewable Energy

EBRD Offers $458 Million Debt For 750 Megawatts Solar Power Projects In Egypt

written by saurabh

The European Bank for Reconstruction and Development (EBRD) has offered more than $450 million to various project developers planning to set up utility-scale solar power projects in Egypt.

The Bank has offered loans worth $458 million to a total of 16 project developers that represent 750 megawatts capacity. The projects were allocated to these developers through a tendering process. Some of the major project developers planning to set up projects are ACWA Power, Scatec Solar and EDF.

ACWA Power plans to set up a total of 120 megawatt capacity for which it has been offered debt funding worth $28.7 million. Scatec Solar will set up six project of 50 megawatts each and will be eligible for $243 million of debt funding from EBRD. European energy major EDF could get $29 million to set up a 50 megawatt project.

Scatec Solar had signed an agreement with the Egyptian authorities to set up 400 megawatt solar power capacity in the Ben Ban region. The company will pour $50-70 million in these projects itself as equity investment.

More than three dozen project developers had signed agreements with the Egyptian government to set up 1.8 gigawatts of solar power projects in the Ben Ban region, Aswan. The total investment for this solar power park is expected to be around $3 billion.

05/23/2017 0 comment

Renewable Energy

Eni Plans 420 MW Renewable Energy Capacity In Egypt

written by saurabh

Italian oil and gas company Eni has announced plans to develop a portfolio of renewable energy projects in Egypt, starting with 50 MW solar PV power plant.

The first project of 50 MW solar PV will be built in Sinai, near Eni’s Abu Rudeis facilities. The project will be jointly developed by Petrobel, an equal joint venture between Eni-owned IEOC and state-owned Egyptian General Petroleum Corporation (EGPC) under fast-track mode. The project will be sanctioned next month and expected to be commissioned by December 2017.

“With this initiative, the Egyptian authorities have confirmed their strong commitment towards the environment, based on the double positive effect of reducing the emissions from power generation and utilizing a green fuel in the auto transportation system,” Eni said, in a statement.

Eni already has a strong presence in Egypt since 1954 and operates through its subsidiary IEOC. Company is the owner of massive Zohr gas field and expected to start production next year, currently produces about 210,000 barrels of oil equivalent per day in Egypt.

This project would be part of Eni’s green energy program which aims to develop 420 MW of renewable energy projects mostly solar power generation by 2022.

The announcement is the first since Egypt announced reduction in the feed-in tariffs for solar power projects. The Ministry of Electricity and Energy recently announced that it reduced the feed-in tariffs for solar power projects. Projects with size of 500 kW to 20 MW will now have feed-in tariffs of US¢7.8/kWh, down from US¢13.6/kWh while projects of size 20-50 MW will see feed-in tariffs fall from US¢14.0/kWh to US¢8.4/kWh.

The Egyptian government also announced plans to change rules and regulations pertaining to the second phase of solar power expansion. The government will now allow international arbitration to address disputes.

Image by vectoropenstock.com for Cleantechies

09/30/2016 1 comment

Renewable Energy

TBEA To Build 1 GW Solar Power Project In Egypt

written by saurabh

The Chinese firm TBEA SunOasis has signed a memorandum of understanding (MoU) with two Egyptian government agencies to build 1 GW solar power plant.

According to Dr. Sahar Nasr, Minister of International Cooperation, project would be developed in two phases of 500 MW each .The MoU signed by the Egyptian’s ministers of international cooperation and military production and the Chinese firm also envisaged the establishment of solar panels manufacturing facility in Egypt.

The Ministry of International Cooperation will provide support during the construction stages of the project along with the preparation of feasibility study in co-ordination with the development partners.

This deal would enable exchange of expertise in local production of silicon solar cells and would also provide technology transfer and knowledge for construction of major solar power plants in Egypt. TBEA will be responsible for transferring knowledge, training laborers, providing assistance in research and development, engineering consultancies and operation and maintenance of solar power plants.

This partnership is in line with the Egyptian’s government plan to diversify its energy mix using renewable energy. The country has already attracted investments from various international firms for several hundred megawatts of renewable energy projects.

Several international project developers have announced aggressive plans to set up solar power projects in Egypt. A total of 39 project developers have signed agreements with the Egyptian government to set up 1.8 GW solar power project in Aswan province.

Other companies, including Siemens, Skypower Global, ACWA Power-Masdar, Scatec Solar, and Mainstream-Actis, have also announced planned major investments in the solar as well as wind energy sectors in Egypt.

07/31/2016 0 comment

Articles Renewable Energy

GDF Suez, Toyota Partner For 250 MW Wind Energy Project In Egypt

written by saurabh

Wind energy market in Egypt has received a major boost with some of the leading names in the world coming together to implement at a large-scale wind energy project.

The Ministry of Electricity in Egypt has announced that it recently signed a final contract with GDF Suez, Toyota and Egypt-based Orascom to set up a 250 MW wind energy project in the Gulf of Suez. The three companies shall fund the project while the Ministry of Finance will provide financial guarantees. Electricity generated from the project will be sold to distribution companies through a 25-year power purchase agreement.

The project is among several large-scale wind energy projects being planned by international developers. The Ministry of Electricity reported that it will discuss implement of 250 MW project planned by Lekela Power-Actis and a 320 MW project by Italgen S.P.A.

Earlier this year, the Egyptian government had announced plans to raise funds worth €180 million to set up 2 GW wind energy capacity.

Last year Lekela Power, a joint venture company between Mainstream Renewable Power and investment firm Actis had announced plans to set up a 250 MW wind energy project in the Gulf of Suez region. Lekela Power had signed a memorandum of understanding to develop the project with the Egyptian Electricity Transmission Company. Lekela Power will develop, own, and operate the project, which is expected to require a total investment of $350 million.

Additionally, GE and Siemens are also reportedly planning to set up wind energy projects as well as wind turbine manufacturing facilities in Egypt.

05/31/2016 0 comment

Articles Renewable Energy

International Consortium Initiates Construction Of 2 GW Solar Power Capacity In Egypt

written by saurabh

International companies are making swift progress on their plans to significantly boost renewable energy capacity addition in Egypt.

An international consortium led by Terra Sola recently announced that it started construction of a 2 GW solar power project in Egypt. The project is expected to require a total investment of $3.5 billion. The consortium includes Terra Sola Ventures, Terra Nex, RWE New Energy, and Hareon Solar Technologies.

The entire project also includes construction of 200 MW solar PV module fabrication facility as well as an inverter manufacturing unit. Equipment manufactured at these facilities shall be used locally and will also be exported to other markets.

Terra Sola had announced plans for this venture last year. The company had briefed the government about its plans to set up extensive solar power infrastructure in the country. The company had stated that it expects an annual revenue of $760 million and provide employment to 20,000 people through this investment plan.

Other companies, including Siemens, Skypower Global, ACWA Power-Masdar, Scatec Solar and Mainstream-Actis, have also announced planned major investments in the solar as well as wind energy sectors in Egypt.

04/30/2016 0 comment

Renewable Energy

Gamesa Wins 160 MW Wind Energy Contract In Egypt

written by saurabh

International company continue to benefit from the recent surge in renewable energy infrastructure development in Egypt.

Gamesa recently announced that it was awarded contract for 160 MW wind energy capacity by the New & Renewable Energy Authority of Egypt. The total capacity is spread across two projects at the same location.

Larger of the two projects shall have an installed capacity of 120 MW. Gamesa shall be responsible for supply, installation and commissioning of 60 units of G80-2.0 MW wind turbines. The project shall be funded through the Spanish government’s Fund for International Business Expansion. Delivery of the turbines is expected to begin in October 2016 while the project is scheduled to be commissioned by third quarter of 2017.

The smaller of the two projects will include delivery of 20 units of G80-2.0 MW turbines. These turbines shall be commissioned at an existing 200 MW wind farm which has also been commissioned by Gamesa. The initial development of the wind farm was financed by KfW and this expansion shall also be supported by KfW.

Gamesa will also handle construction of the civil engineering and electric infrastructure needed to install and operate these facilities and will handle their maintenance for the next 3 years.

Gamesa secured its first order in Egypt in 2003 for the Zafarana wind farm. Since then, the company has installed nearly 600 MW in this country and services over 400 MW under O&M agreements.

Egypt is planning to add 2 GW wind energy capacity by 2022, part of an overall 4.3 GW renewable energy capacity addition by the same year.

04/17/2016 0 comment