Schneider Electric signs agreement with gov’t to build power control centers

Schneider Electric has signed an agreement with the Electricity Ministry to build power control centers for Egypt’s electricity grid, an Ittihadiya statement said. President Abdel-Fattah El-Sisi met with SE’s Executive Vice President for International Operations Luc Remont on Sunday to discuss the agreement. The statement did not specify how many control centers would be built or a timeframe. The ministry launched at the end of January a tender for five power control centers in the Alexandria, Upper Egypt, Suez Canal and Greater Cairo areas. Competing companies at the time included General Electric, Siemens, ABB, Schneider Electric and China’s State Grid Corporation. The project will be financed by the Egyptian Electricity Holding Company using a portion of a EGP 19 bn loan it acquired in 2017 from a banking consortium led by the National Bank of Egypt and Banque Misr.