{"id":79306,"date":"2023-08-31T01:00:48","date_gmt":"2023-08-31T01:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/08\/31\/egypt-announces-timetable-for-stake-sales-of-renewables-projects-amid-privatization-drive\/"},"modified":"2023-08-31T01:00:48","modified_gmt":"2023-08-31T01:00:48","slug":"egypt-announces-timetable-for-stake-sales-of-renewables-projects-amid-privatization-drive","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/08\/31\/egypt-announces-timetable-for-stake-sales-of-renewables-projects-amid-privatization-drive\/","title":{"rendered":"Egypt announces timetable for stake sales of renewables projects amid privatization drive"},"content":{"rendered":"

<\/a>We know more about Egypt\u2019s plans for selling renewables assets: <\/strong>The Egyptian government has set a date for the sale of two wind energy plants, a combined-cycle power plant in Beni Suef, and several desalination plants before the end of the current fiscal year on 30 June 2024, an updated state ownership policy document that was leaked to the press showed. The sale comes under an ambitious plan by the government<\/a>to bring in USD 5 bn in investment through the privatization of state-owned companies and assets.<\/p>\n

First up, Gabal El Zeit wind farm: <\/strong>The document said that the Sovereign Fund of Egypt (SFE) and New and Renewable Energy Authority (NREA) will select the best offer from investors looking to acquire the state-owned 580 MW wind farm<\/a>. The investor with the best offer will be granted a 60-day period to conduct due diligence. A joint committee between the SFE and the country\u2019s Electricity Ministry is negotiating the transaction with potential investors within specific parameters, including a tariff fee of USD 0.24 per kilowatt per hour (kWh), with 25% of it paid in EGP. The document said it expects the agreement to finalize in October this year.<\/p>\n

Next, Zafarana wind farm:<\/strong> The government said it plans to sell a further stake in the 545 MW<\/a>wind farm<\/a> to international investors aside from the portion that the government has in principle agreed to sell<\/a> to multinational shipping giant Maersk, according to the document. The Danish firm will receive the first four phases of the power plant, while the remaining four phases will be allocated to investors for green hydrogen projects, according to the document. It aims to close the acquisition by the end of the fiscal year next June, according to the state ownership document.<\/p>\n

A <\/strong>chunk of the Siemens power plant is up for grabs:<\/strong> The Egyptian government is aiming to sell a c. 70% stake in the 4.8-GW Beni Suef combined-cycle power plant, according to the document. It has set an estimated value of USD 1.4-1.9 bn to the asset, the document showed.<\/p>\n

And renewables-powered desalination is included: <\/strong>The Egyptian government is also planning to sell four of 21 planned desalination plants<\/a> \u2014 which will be powered by renewables \u2014 in the first half of 2024, according to the document. Earlier this year, seventeen regional and international consortiums prequalified for the tender process<\/a> for several plants in Egypt as part of the first phase of the government\u2019s desalination program. SFE CEO Ayman Soliman said in statements last year<\/a> that the first phase is estimated to cost USD 3 bn out of a total USD 8 bn for the project.<\/p>\n","protected":false},"excerpt":{"rendered":"

We know more about Egypt\u2019s plans for selling renewables assets: The Egyptian government has set a date for the sale of two wind energy plants, a combined-cycle power plant in Beni Suef, and several desalination plants before the end of the current fiscal year on 30 June 2024, an updated state ownership policy document that […]<\/p>\n","protected":false},"author":1,"featured_media":79307,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[40,11,79,88,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-egypt","tag-enterpriseclimate","tag-ma-watch","tag-renewables","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"055bd4e5-d6cf-4693-815e-691bd666da01","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/354.jpg","photo_position":"above","related_issue":[79301],"teaser":"","voice_url":""},"yoast_head":"\nEgypt 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