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    Reference: 20110096
    Release date: 10 June 2011

    Promoter – Financial Intermediary

    Egyptian Electricity Holding Company (EEHC)

    Location

    Description

    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.

    Objectives

    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.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 495 million

    Environmental aspects

    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.

    Procurement

    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.

    Status

    Signed - 29/12/2011

    Disclaimer

    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).

    Related tags

    Egypt Energy