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.
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.
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.
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.
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.
The Egyptian Ministry of Electricity contracted EBS International to work on separating the Egyptian Electricity Transmission Company (EETC) to operate independently from the Egyptian Electricity Holding Company.