Latest news with #EgyptianElectricityTransmissionCompany
Egypt Independent
06-07-2025
- Business
- Egypt Independent
XD-EGEMAC completes expansion works at Benban 3 station
XD-EGEMAC successfully completed the expansion works of the Beni Suef 3 Transformer Station (Benban 3), a strategic facility in Upper Egypt. In a statement issued on Saturday 5/7/2025, the company announced the successful energization of the Gas-Insulated Switchgear (GIS) at 500 kV, marking a significant milestone in the station's expansion. This achievement highlights XD-EGEMAC's ongoing ability to execute projects with the highest technical standards and quality. The project was implemented in cooperation with the Egyptian Electricity Transmission Company (EETC), under the directives of Minister of Electricity and Renewable Energy Mahmoud Esmat. This comes as part of the ministry's plan to enhance the efficiency of the national electricity grid and accommodate the growing capacity from renewable energy sources, particularly in the Benban Solar Park, one of the world's largest solar power complexes. XD-EGEMAC asserted its commitment to delivering its projects in line with the highest standards of quality and technical excellence, contributing to the development of Egypt's energy infrastructure and the realization of sustainable growth in the power sector.
Yahoo
16-06-2025
- Business
- Yahoo
Scatec signs PPA for 900MW wind project in Egypt
Scatec has entered a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for the 900MW Shadwan wind power project. The agreement, signed through Scatec's dedicated project company Shadwan Wind Power, aims to strengthen Egypt's transition towards a sustainable renewable energy mix. The wind power project will be located in Ras Shukeir, recognised for some of the world's most favourable conditions for onshore wind power generation. Scatec CEO Terje Pilskog stated: 'This project is a testament to Scatec's position as one of the leading renewables companies in Egypt. 'We are now advancing four major renewables projects in the country, with a diversified technology base. I would like to thank all parties involved for making this happen, with a particular acknowledgement to the skills and persistence of our Egyptian team.' Comprehensive wind measurements will shortly be conducted at the site. These measurements are scheduled to conclude in the first quarter of 2026. In a related development, Scatec has announced the closure of a non-recourse project financing of $479.1m for the 1.1GW Obelisk solar and battery storage project being developed in the Nagaa Hammadi region of Egypt. The financing is being provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB) and British International Investment (BII). The financing amount represents 80% of the total estimated capital expenditure of $590m. The Obelisk solar project will be developed in two phases, with the first phase comprising 561MW of solar power and 100MW/200 megawatt hours (MWh) of battery storage. It is expected to achieve its commercial operational date in the first half of 2026. The second phase, which will add 564MW of solar capacity, is scheduled for completion in the latter half of 2026. The generated energy from the project will be sold under a 25-year PPA with the EETC. Scatec has previously secured equity bridge loans amounting to $120m for the project. Pilskog stated: 'Reaching financial close for this project marks a major milestone for Scatec. It proves our ability to deliver large-scale hybrid projects. 'We are proud to partner with leading development finance institutions to support Egypt's clean energy ambitions, and we look forward to delivering this important project together with our partners.' In early June 2025, Scatec was awarded preferred bidder status for the 123MW/492MWh Haru battery energy storage system project in South Africa. "Scatec signs PPA for 900MW wind project in Egypt" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Daily News Egypt
28-05-2025
- Business
- Daily News Egypt
Egypt approves $388m in private renewable energy projects for direct industrial supply
Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, has awarded qualification certificates to four companies selected to operate under the country's newly adopted private-to-private (P2P) power agreement model. The initiative allows private energy producers to generate and sell electricity directly to industrial consumers, marking a transformative step in Egypt's energy liberalization strategy and commitment to sustainable development. The approved projects represent a combined capacity of 400 megawatts and total investments of $388m. Each company will build its own renewable energy power plant and supply electricity directly to industrial clients, while paying a transmission fee to the Egyptian Electricity Transmission Company (EETC). These agreements are structured with no financial burden on the state and do not require sovereign guarantees. Among the newly qualified projects, Neptune for Electricity Production and Sales will supply solar power to the Suez Steel Plant. AMEA Power will provide electricity from its solar facility to the Suez Canal Container Terminal and Bivar Group for Chemicals. TAQA PV is set to supply Ezz Steel through a hybrid solar and wind power station, while ENARA for Renewable Energy Services will generate electricity from a hybrid facility for both the Helwan Fertilizers plant and the Alamein Silicon Products Complex. Minister Esmat stated that the initiative is being implemented in line with Egypt's Electricity Law, which is designed to open the market to competition, enhance efficiency, and attract private investment. He emphasized that liberalizing the electricity sector is a key strategic step in building a dynamic, competitive energy market that reduces costs, improves service quality, and strengthens Egypt's role as a regional energy hub. The Minister highlighted that the P2P framework enables industrial consumers to secure reliable, renewable electricity while contributing to their climate goals. These projects will also allow companies to certify their clean energy usage and reduce emissions, facilitating access to green export markets. Esmat noted that the Egyptian Electric Utility and Consumer Protection Regulatory Agency had completed its review of qualification submissions from seven companies, each proposing 100-megawatt renewable energy projects. The evaluation process was conducted in collaboration with a global consulting firm and the European Bank for Reconstruction and Development (EBRD), which helped develop the regulatory guidelines and legal framework for the P2P agreements. He reaffirmed the Ministry's commitment to building a transparent and investor-friendly environment that enables both producers and consumers to actively participate in Egypt's energy transition. These efforts are integral to supporting the national green economy agenda, expanding renewable energy capacity, and modernizing the country's power infrastructure.
Egypt Today
28-05-2025
- Business
- Egypt Today
Egypt Greenlights Private Sector Renewable Projects in $388M Move Toward Energy Market Reform
The Egyptian Ministry of Electricity and Renewable Energy has awarded qualification certificates to four private-sector renewable energy projects, comprising both solar and wind technologies. With a total generation capacity of 400 megawatts and a combined investment of $388 million, these projects mark a major milestone in Egypt's strategy to liberalize its electricity market and encourage private sector involvement in clean energy. According to the ministry's statement, the approved companies will be responsible for constructing the power plants and directly selling the generated electricity to industrial consumers. The electricity will be transmitted through the national grid by the Egyptian Electricity Transmission Company, which will receive a transmission fee. Crucially, this model requires no financial contributions or guarantees from the government, reducing the public sector's burden and empowering private entities to take a leading role in the country's energy transition. The selected projects include Neptune for Electricity Production and Sales, which will power the Suez Steel factory using solar energy. AMEA Power will supply electricity from a solar station to the Suez Canal Container Terminal and Bivar Chemicals. Meanwhile, Taqa PV will deliver energy to Ezz Steel via a hybrid solar and wind facility. Enara for Renewable Energy Services will provide electricity to both the Helwan Fertilizer Factory and the Alamein Silicon Products Complex through a similar hybrid system. Minister of Electricity Mahmoud Esmat explained that the Electricity Utility and Consumer Protection Regulatory Agency evaluated a total of seven private-sector proposals, each aiming to build 100-megawatt renewable energy plants. These reviews were conducted in cooperation with a global consultancy and the European Bank for Reconstruction and Development (EBRD), which also helped develop the regulatory framework and agreements enabling private sector engagement through the Power-to-Power (P2P) system. Esmat highlighted that this initiative is a key component of a larger governmental agenda grounded in Egypt's Electricity Law. The law is designed to create a competitive electricity market by allowing producers, consumers, and distributors to operate in a more dynamic and open environment. This shift is expected to enhance service quality, lower electricity costs, and attract long-term investments into Egypt's energy infrastructure, positioning the country as a regional leader in renewable energy development.
Egypt Today
07-05-2025
- Business
- Egypt Today
Scatec Initiates $590 Million Solar Project in Egypt with Energy Storage
CAIRO - 7 May 2025: Scatec has officially launched the construction of its $590 million, 1.1 GW Obelisk solar project in Nagaa Hammadi, Egypt, which will also include 200 MWh of battery storage. The project, which is planned in two phases, is expected to be fully operational by the second half of 2026. The first phase will introduce 561 MW of solar capacity and 200 MWh of battery storage by mid-2026, while the second phase will add another 564 MW of solar power later that year. The Obelisk project will be connected to Egypt's national grid through 220 kV transmission lines, with a construction contract signed last month between the Egyptian Electricity Transmission Company (EETC) and a consortium that includes Kharafi National and Power Ring. In December 2024, the project was granted a golden license, a significant step in its development. To fund the initiative, Scatec has secured $120 million in equity bridge loans, with the project's equity injections deferred until the completion of construction. The Arab Energy Fund will contribute $90 million, and the European Bank for Reconstruction and Development (EBRD) will add $30 million. Additionally, Scatec has entered into a mandate for long-term, non-recourse debt, covering 80 percent of the project's total capital expenditure, sourced from a group of development finance institutions. Scatec has also secured a Power Purchase Agreement (PPA) with the EETC, a 25-year USD-denominated contract backed by a sovereign guarantee, ensuring the project's financial viability for decades to come.
