News / Egypt
Egypt will Not Import Oil from Iran
Egypt is not in negotiations with Iran on crude oil imports, while the agreement with Saudi Aramco is still valid.
Egypt to Settle Power Plants’ Gas Bill
Starting January 2017, the Ministry of Electricity plans on settling it's outstanding dues of EGP 60b for gas purchases used in fueling power stations.
Egypt’s Phase I FiT Deadline Will Not Change
The Egyptian Electricity Holding Company declined extending the period for the financial closure of phase I projects.
Cairo Obtained $2.2m Loan for Power Plant
Cairo Electricity Production Company's CEO, Mohamed Mokhtar, stated that the company has finalized a loan of around $2.2m from HSBC bank at an interest rate of 3%. The amount will be used to fund the construction of 6th of October power plant.
Egypt, ACWA to Sign Power Plant Deal
The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, met with representatives from Saudi ACWA Power to discuss Dairut power plant, with investments reaching about $2.1b.
Mostorod Refinery to Finalize in 2017
The Egyptian Refining Company will complete its refining project in Mostorod within the first quarter of 2017.
Egypt to Reimburse FiT Payments
The New and Renewable Energy Authority (NREA) will pay $750,000 to each company that withdrew from phase I of the energy purchasing Feed-in-Tariff (FiT) program.
Burullus Started Trial Power Production
A source with the Egyptian government stated that Germany's Siemens will start trails in Burullus power plant in late mid-October. Egyptian Ministry of Electricity will provide the power plant with 500KW from Abu Qir facility for the trials.
