Egypt Seeks Funding For Coal Plant, Officially Inaugurates 2GW Of Capacity

Egypt’s powergen expansion has been given wings by a flurry of new project deals, including both conventional and renewable technologies. Now Egyptian banks are looking at funding, beginning with a big coal project.

Egypt has new power plants under development with a combined capacity of over 4GW, not including temporary capacity being delivered to help prevent blackouts during this summer’s peak demand period. And it has recently lined up preliminary deals for more than 40GW of additional capacity in and around a major development conference in March.

All this development will come at a price. In terms of natural resources, the projects under development and planned would require some 1.3bn cfd of natural gas, almost 24,000 b/d of oil and 75mn tons/year of coal (see table). In terms of finance the total spending requirement is still unclear, but massive nevertheless. Power project deals signed at the March development conference alone exceeded $43.4bn.


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