{"id":549099,"date":"2022-09-04T08:42:56","date_gmt":"2022-09-04T08:42:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/egypt-greece-plot-9-5-gw-renewables-project-plus-private-sector-solar-tender-coming\/"},"modified":"2022-09-04T08:42:56","modified_gmt":"2022-09-04T08:42:56","slug":"egypt-greece-plot-9-5-gw-renewables-project-plus-private-sector-solar-tender-coming","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/egypt-greece-plot-9-5-gw-renewables-project-plus-private-sector-solar-tender-coming\/","title":{"rendered":"Egypt + Greece plot 9.5 GW renewables project. Plus: Private sector solar tender coming?"},"content":{"rendered":"

<\/a> Egypt and Greece are working on a plan to add<\/strong> 9.5 GW <\/strong>of renewable <\/strong>power generation capacity in Egypt for export to Greece<\/strong>, according to an Ittihadiya<\/a> statement Thursday. The electricity would be generated by wind and solar plants and would be shipped across the Mediterranean via subsea cables, the statement said.<\/p>\n

There\u2019s a lot we don\u2019t know:<\/strong> The statement was light on details, including who\u2019s participating in the wind and solar plants, the cost of the project, and where the money will come from. That suggests the two sides have reached a political agreement that is now being fleshed out by technical and commercial experts on each side. Possibly the biggest unanswered question is where the energy will go: The 3 GW Greece-Egypt Interconnector<\/a> (GREGY) and the 2 GW EuroAfrica Interconnector<\/a> will not have the transmission capacity to handle 9.5 GW, raising the prospect that additional infrastructure will need to be built.<\/p>\n

Both sides want this asap:<\/strong> This came during a meeting between President Abdel Fattah El Sisi and the CEO of Greek infrastructure investor Copelouzos Group<\/a> last week, during which the president called on the two sides to accelerate work on the project. Copelouzos CEO Dimitris Copelouzos said he was looking into implementing the projects in Egypt amid \u201congoing challenges faced by Europe in the energy field.\u201d<\/p>\n

Copelouzos is a key player in the GREGY project:<\/strong> Work on GREGY has accelerated in recent months as the EU steps up its search for new energy supplies following Russia\u2019s invasion of Ukraine. Renewable energy player Elica \u2014 a 50\/50 joint venture between Copelouzos and Samaras Group \u2014 is applying to the EU for funding, with the European Investment Bank and a number of Greek banks possibly contributing money to the EUR 3.5 bn project.<\/p>\n

We\u2019ve been energy BFFs with Greece for a while:<\/strong> Egypt is looking into forging closer energy and electricity relations with Greece and other neighboring countries in the region, including a potential gas pipeline<\/a> and the USD 4 bn EuroAfrica project to connect our grid with Greece and Cyprus later this decade.<\/p>\n

PRIVATE SECTOR COULD BE OFFERED 300 MW OF SOLAR PROJECTS-<\/strong><\/p>\n

The Electricity Ministry plans to tender <\/strong>six solar projects<\/strong> in Aswan Governorate to <\/strong>local and international private sector firms in 4Q 2022, <\/strong>Al Mal<\/a> reports, citing unidentified sources.<\/p>\n

The details: <\/strong>The New and Renewable Energy Authority (NREA) is reportedly offering six plots of land to private sector partners under 25-year build, own, operate (BOO) contracts, according to the newspaper. The total investment costs are estimated at upwards of EGP 5 bn and the plants are set to produce a combined 300 MW of energy each year.<\/p>\n

What we don\u2019t know:<\/strong> Whether this means the government is looking to expand the 1.65 GW Benban park in Aswan, which was completed in 2019, to help it meet ambitious new renewables targets<\/a>. The Benban park has made us a regional leader on solar, generating 1.9 GW of electricity annually \u2014 but we currently only have around 900 MW of fresh capacity<\/a> currently set to come online by the end of the decade. That could soon change, as the electricity and environment ministries seek USD 10 bn in investments to decommission 17 \u201cinefficient\u201d fossil-fuel power plants and replace them with solar and wind power ahead of COP27<\/a> in November. The government is looking to have renewable energy account for 42%<\/a> of our energy mix by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt and Greece are working on a plan to add 9.5 GW of renewable power generation capacity in Egypt for export to Greece, according to an Ittihadiya statement Thursday. The electricity would be generated by wind and solar plants and would be shipped across the Mediterranean via subsea cables, the statement said. There\u2019s a lot […]<\/p>\n","protected":false},"author":1,"featured_media":549100,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7207],"tags":[244,770,93,72,381,367,404,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-electricity-ministry","tag-energy","tag-enterpriseam","tag-greece","tag-new-and-renewable-energy-authority","tag-public-private-partnership","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"174d0949-75cd-49ae-bb8d-6abd66ec4206","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/107.jpg","photo_position":"above","related_issue":[549093],"teaser":"","voice_url":""},"yoast_head":"\nEgypt + Greece plot 9.5 GW renewables project. 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The Greece\u2013Africa Power Interconnector (GAP) will transit the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586883,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/infinity-power-copelouzos-could-partner-on-renewable-energy\/","url_meta":{"origin":549099,"position":1},"title":"Infinity Power, Copelouzos could partner on renewable energy","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"Renewable energy would be sent to Europe via the proposed GREGY connector","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2021\/12\/electricity-energy.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590364,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/18\/egypt-greece-explore-ways-to-fund-the-gregy-interconnector\/","url_meta":{"origin":549099,"position":2},"title":"Egypt, Greece explore ways to fund the GREGY interconnector","author":"enterpriseam admin","date":"18 July 2023","format":false,"excerpt":"Three financing options are on the table, an Electricity Ministry source told us","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/704.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598230,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/egypts-annual-electricity-production-from-renewables-hits-6-gw\/","url_meta":{"origin":549099,"position":3},"title":"Egypt\u2019s annual electricity production from renewables hits 6 GW","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"Egypt is now generating 6 GW of electricity from renewables each year, with 2 GW coming from solar and wind power, executive chairman of the New and Renewable Energy Authority (NREA) Mohamed El Khayat said, according to Egypt Today. Egypt appears to be on course to meet its target to\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577087,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/09\/egypt-has-just-lined-up-as-much-as-25-gw-worth-of-wind-projects\/","url_meta":{"origin":549099,"position":4},"title":"Egypt has just lined up as much as 25 GW worth of wind projects","author":"enterpriseam admin","date":"9 November 2022","format":false,"excerpt":"Egypt lined up commitments for up to another 15 GW of wind power yesterday, bringing to 25 GW the total new wind-power generation capacity it has locked in recent days. 25 GW: That\u2019s A LOT of power. It\u2019s almost half of the country\u2019s current installed capacity, which at the end\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557376,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/two-renewable-energy-producers-want-to-delay-work-on-their-egypt-projects\/","url_meta":{"origin":549099,"position":5},"title":"Two renewable energy producers want to delay work on their Egypt projects","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Global inflation is delaying renewable energy projects in Egypt: Two major Middle Eastern energy companies have recently asked to postpone renewable projects under pressure from rising input prices, an official at the New and Renewable Energy Authority (NREA) tells Enterprise. Saudi Arabia\u2019s ACWA Power and the UAE\u2019s Al Nowais have\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549099"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549099\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549100"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549099"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549099"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}