Release date: 10 June 2011
Promoter – Financial Intermediary
Egyptian Electricity Holding Company (EEHC)
The installation of a 750 MW Combined Cycle Gas Turbine (CCGT) at the Giza North Power Plant in the Nile estuary area northwest of Cairo to meet growing demand of electricity and increase the fuel efficiency of power generation in Egypt.
The aim is to expand generation capacity to meet projected growth in electricity demand. The application of Combined Cycle Gas Turbine (CCGT) – module 3 – technology allows for high fuel efficiency in generation and as such contributes to mitigating green-house gas emission (GHG) intensity in the electricity sector.
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 495 million
A more energy-efficient technology with lower emissions than the steam cycle plants currently used in Egypt for base load generation, resulting in CO2 emissions decrease. The project is thus expected to help meet electricity demand with lower environmental impact than other fossil fuel based alternatives.
Legal documentation will oblige the promoter to ensure procurement procedures are done in accordance with the Bank’s Guide to Procurement and the relevant applicable EU rules.
Signed - 29/12/2011
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).