{"id":549300,"date":"2022-09-12T04:00:17","date_gmt":"2022-09-12T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/"},"modified":"2022-09-12T04:00:17","modified_gmt":"2022-09-12T04:00:17","slug":"ebrd-to-help-egypt-wind-down-gas-fired-power-plants","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/","title":{"rendered":"EBRD to help Egypt wind down gas-fired power plants"},"content":{"rendered":"

<\/a> More details on EBRD clean energy funding<\/strong>: The European Bank for Reconstruction and Development (EBRD) will provide USD 300 mn in funding to Egypt to help it decommission 5 GW of gas-fired power plants from 2023, Heike Harmgart, the bank\u2019s managing director for the Southern and Eastern Mediterranean, told Reuters<\/a>. The money will be spent on stabilizing the country\u2019s electricity grid, adding battery storage, upgrading local supply chains for renewables, and retraining workers, she said.<\/p>\n

This is part of the bank\u2019s <\/strong>USD 1.3 bn funding pledge<\/a><\/strong> announced last week<\/strong>, which includes USD 1 bn in financing for renewable energy projects. This would account for roughly one tenth of the private funding Egypt needs to add 10 GW of renewables capacity by 2028, Harmgart said.<\/p>\n

ALSO FROM THE EBRD- <\/strong><\/p>\n

Money for EVs in Egypt:<\/strong> The EBRD is also providing a EUR 10 mn loan to our friends at Abou<\/a>Ghaly Motors<\/a> to fund the purchase of 250 electric vehicles for its taxi fleet, it said in a separate statement<\/a>. Around EUR 3 mn of that funding will come from the UK\u2019s Foreign, Commonwealth and Development Office. The company will use the money to electrify its London Cab fleet<\/a>, which are used to provide taxi services as well as airport transfers in Cairo, Sharm El Sheikh and Hurghada.<\/p>\n

AND- Banque Misr green on-lending loan confirmed:<\/strong> The lender confirmed<\/a> last week that it would go ahead with the USD 100 mn loan<\/strong> to Egyptian state bank Banque Misr<\/strong> approved in<\/a>January<\/a>. The financing will be on-lent to local SMEs looking to invest in climate mitigation and adaptation technologies and services, the bank said.<\/p>\n","protected":false},"excerpt":{"rendered":"

More details on EBRD clean energy funding: The European Bank for Reconstruction and Development (EBRD) will provide USD 300 mn in funding to Egypt to help it decommission 5 GW of gas-fired power plants from 2023, Heike Harmgart, the bank\u2019s managing director for the Southern and Eastern Mediterranean, told Reuters. The money will be spent […]<\/p>\n","protected":false},"author":1,"featured_media":549301,"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":[7545],"tags":[576,7286,571,93,72,7087,151,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate","tag-banque-misr","tag-climate","tag-ebrd","tag-energy","tag-enterpriseam","tag-finance","tag-renewables","tag-smes","wpautop","entry"],"acf":{"mongo_id":"bb47fa0e-86be-4684-9bfb-ee1067524e29","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/189.jpg","photo_position":"above","related_issue":[549296],"teaser":"","voice_url":""},"yoast_head":"\nEBRD to help Egypt wind down gas-fired power plants - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD to help Egypt wind down gas-fired power plants\" \/>\n<meta property=\"og:description\" content=\"More details on EBRD clean energy funding: The European Bank for Reconstruction and Development (EBRD) will provide USD 300 mn in funding to Egypt to help it decommission 5 GW of gas-fired power plants from 2023, Heike Harmgart, the bank\u2019s managing director for the Southern and Eastern Mediterranean, told Reuters. The money will be spent […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-12T04:00:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/189.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EBRD to help Egypt wind down gas-fired power plants\",\"datePublished\":\"2022-09-12T04:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/189.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Banque Misr\",\"Climate\",\"EBRD\",\"energy\",\"EnterpriseAM\",\"Finance\",\"renewables\",\"SMEs\"],\"articleSection\":[\"Climate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/\",\"name\":\"EBRD to help Egypt wind down gas-fired power plants - 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Under a political declaration (pdf) with Egypt announced during President Joe Biden\u2019s visit to COP27 on Thursday, the US and Germany\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654869,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/10\/ebrd-mulling-usd-200-mn-loan-for-hassan-allam-utilities-and-acwa-powers-1-1-gw-gulf-of-suez-wind-farm\/","url_meta":{"origin":549300,"position":2},"title":"EBRD mulling USD 200 mn loan for Hassan Allam Utilities and ACWA Power\u2019s 1.1 GW Gulf of Suez wind farm","author":"enterpriseam admin","date":"10 November 2024","format":false,"excerpt":"When operational, the project will offset 2.4 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2088.jpg?fit=%2C&ssl=1&resize=350%2C200","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":549300,"position":3},"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":639023,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/19\/egypt-getting-usd-1-8-bn-in-solar-power-investment\/","url_meta":{"origin":549300,"position":4},"title":"Egypt getting USD 1.8 bn in solar power investment","author":"enterpriseam admin","date":"19 October 2017","format":false,"excerpt":"EBRD approves funding for three remaining solar power plants under USD 500 mn framework: The European Bank for Reconstruction and Development (EBRD) approved financing for three solar power plants in Egypt under its USD 500 mn renewable energy framework, a statement said yesterday (pdf). This brings the total number of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/10\/129.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658460,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/acwa-reaches-financial-close-on-usd-1-2-bn-gulf-of-suez-project\/","url_meta":{"origin":549300,"position":5},"title":"Acwa reaches financial close on USD 1.2 bn Gulf of Suez project","author":"enterpriseam admin","date":"12 January 2025","format":false,"excerpt":"The funding includes a USD 275 mn loan from EBRD","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\/2025\/1\/430.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\/549300","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=549300"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549300\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549301"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549300"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549300"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}