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Project bulletin

Saudi developer Acwa Power and its local partner Hau Energy have secured more than $700m in loans for their Suez West wind project in Egypt, said to be the largest single-contracted wind farm in the Middle East.

Egypt
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Project bulletin

Dubai-based Amea Power commissioned the 500MW Abdydos plant in mid-December, saying it had also won a contract to expand the plant with a utility-scale battery energy storage system. Abdydos is the largest solar PV plant in Egypt to date. Amea has also signed a PPA for another 500MW Egyptian wind plant.

Egypt
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Abu Dhabi National Energy Company’s new lower-carbon energy and chemicals investment vehicle XRG will take a 49% stake in Arcius Energy, with BP holding the majority stake in the new joint venture whose initial focus is Egypt.

Egypt
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Project bulletin

The African Development Bank has committed $170m for Egypt’s largest wind project to date, which is being developed by Saudi Arabia’s Acwa Power and the local Hassan Allam Utilities. Another multilateral is expected to contribute a further $200m.

Egypt
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Two PPAs have been concluded, the first of an “accelerated renewable energy initiative”. Along with a series of other wind and solar agreements, they fit into Egypt’s programme of rapidly promoting giga-scale projects while keeping offtake arrangements wide open. Projects are being driven by a cadre of loyal investor-developers.

Egypt
Subscriber

QatarEnergy has bought a 23% interest in Egypt’s North El-Dabaa (H4) Block in the Mediterranean Sea for an undisclosed amount.

Egypt
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Saudi developer Acwa Power has confirmed that the Redstone CSP plant in South Africa should reach its full generating capacity within days. In the 27 october statement, it also said its Kom Ombo solar PV plant in Egypt had reached full production capacity.

Egypt | South Africa
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Abu Dhabi National Energy Company (Taqa) has signed an MoU with master city developer Modon Holding to look at power generation and transmission projects at the planned Ras El-Hekma urban centre on Egypt’s Mediterranean coast.

Egypt
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The scale of the green hydrogen (GH2) opportunity emerging in North Africa is potentially transformative for the region. However, to date just one tiny pilot project is up and running and there is still no firm evidence that giga-scale projects can be made bankable. If the prospect is a mirage, it is one that has taken in a swathe of respected global investors. With an ever-increasing amount riding on the outcome, failure will be a disaster, but success could revolutionise the fortunes of the region, writes John Hamilton.

Egypt | Morocco | Tunisia
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Egypt has the most prospective portfolio of green hydrogen development prospects anywhere in Africa. The multi-billion-dollar projects for which major global investors have signed framework agreements could be a lifeline for the heavily indebted country but will take years to come to fruition. However, two much smaller projects developed by Norway’s Scatec have secured firm offtake commitments, offering another way forward.

Egypt
Subscriber

Egypt Prime Minister Mostafa Madbouly secured a $5bn pledge from Saudi Arabia’s Public Investment Fund (PIF) in mid-September, in what Egyptian authorities described as a “first phase” of investment. The plunging value of the Egyptian pound over the past few years has made deals significantly more attractive to Gulf investors and President Abdel Fattah El Sisi’s regime needs the financial support as much as ever.

Egypt
Subscriber

UAE-based Masdar and its local partner Infinity Power have signed a power purchase agreement with the Egyptian Electricity Transmission Company for electricity from the planned onshore wind farm.

Egypt
Subscriber

British energy major BP has signed a joint development agreement with a consortium of Abu Dhabi Future Energy Company (Masdar) and the local Hassan Allam Utilities and Infinity Power to explore the potential for a large, multi-phase green hydrogen (GH2) project in Egypt.

Egypt
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Project bulletin

Ethiopia is moving ahead with the fifth filling of the Grand Ethiopian Renaissance Dam (Gerd), according to Egyptian officials who cited evidence from satellite imagery.

Egypt | Sudan | Ethiopia
Subscriber

The next phase of Egypt’s renewable energy development will stretch over several years, with financial close on the most ambitious projects not expected before 2026. If successful, Cairo could establish a pipeline of projects with several gigawatts of wind generation capacity being added every year into the next decade.

Egypt