BP starts gas production offshore Egypt

BP has announced the start of gas production from the Atoll Phase One project, offshore Egypt. It is producing 350 million cubic feet of gas a day – which is directed to the national grid – and 10,000 barrels of condensate a day. Located in the North Damietta concession in the East Nile Delta, it […]

Egypt to bolster grid by 20GW before 2020

Egypt plans to add 20GW of electrical generation capacity to its grid in the next two years. Media reports from national news suggest the total capacity of conventional power plants in the country now totals 37.9GW, in addition to 890MW of renewable energy. By 2020, the plan is expected to add 20.1GW to the country’s […]

Siemens Gamesa secures 262MW deal in Egypt

Siemens Gamesa has secured a 262MW turbine supply and 15-year maintenance contract in Egypt. The firm will install 125 of its G97-2.1 MW turbines at Gulf of Suez wind farm, located in Ras Ghareb. It received this order from a consortium made up of ENGIE, the Toyota Tsusho Corporation, Eurus Energy Holdings Corporation and Egyptian […]

Egypt joins global scheme to end gas flaring

Egypt has joined a global initiative to end the routine flaring of gas at oil production sites. It will join the Zero Routine Flaring by 2030 initiative, which aims to bring together governments, oil companies and development institutions who agree the practice is unsustainable from a resource management and environmental perspective. ‘Associated gas’ is extracted […]

Egyptian solar gets £72.9m boost from UK

An 800MW solar project in Egypt has received a £72.9 million loan from a UK Government-owned finance group. CDC is providing the finance to the Nubian Suns facility to help the country achieve its green energy targets, meet demand and create jobs. The organisation is part of an International Finance Corporation-led syndicate providing the project […]

Sun’s out for Egyptian solar with $87m loan

Two solar plants in Egypt with a combined capacity of 80MW are to receive a loan of $87 million (£66m). Renewable energy developers Infinity Solar Energy SAE and ib vogt GmbH will have funding provided by the European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF) and the Dutch Development Bank (FMO). […]

Rosneft closes $1.1bn Zohr field oil deal

Rosneft has bought a 30% stake in the Zohr gas field for $1.125 billion (£850m). The Russian state-owned energy giant acquired the stake, which is the largest in the Egyptian sector of the Mediterranean Sea, from Italian company Eni S.p.A. The agreement stipulates a strategic partnership between Rosneft and Eni, which will own a 60% […]

Egyptian solar sector gets $116m boost

Two solar power projects in Egypt has received financing totalling $116 million (£90.6m). The European Investment Bank for Reconstruction and Development (EBRD) and French financial institution Proparco is supporting two 50MW projects. They are the first two projects to be financed under the second round of Egypt’s Feed-in Tariff scheme for renewables. They will be […]

Egypt’s renewable sector gets $500m boost

A $500 million (£393m) framework to finance renewable energy projects in Egypt has been approved. It will support the development of private green projects under the government’s Feed-in Tariff programme, which aims to stimulate private investment in more than 4GW of wind and solar power. The European Bank for Reconstruction and Development (EBRD) Board also […]

Egypt secures $50m loan for green projects

A member of the World Bank Group is providing a $50 million (£40m) loan to support sustainable projects in Egypt. The IFC is lending the money to the Arab African International Bank (AAIB) as part of a $100 million (£80m) package to help scale up its lending operations to small and medium enterprises (SMEs) and […]