International bids to buy Egyptian power plants

International bids to buy Egyptian power plants

The Egyptian Ministry of Electricity and Renewable energy has received two bids from the company Zarou of the American Blackstone Group and the Malaysian Edra Power for the acquisition of three power plants jointly developed by Siemens.

If one of the offers is accepted, Egypt will buy electricity from the company Edra Power or Zarou of Blackstone produced from those stations through a power purchase agreement (PPA).

The three stations, located in the administrative capital, Beni Suef and Al-Brollus, operate with the combined cycle system, with a total capacity of 14.4 thousand MW, and was inaugurated in July.

The three stations cost € 6 billion (about $ 6.7 billion) and were funded by a consortium of lenders, notably Deutsche Bank, HSBC Holdings and KFW Apex.

The ministry explained that such deals are implemented globally in the field of electric power and do not affect the rights of consumers and low-income citizens, as the government ensures the preservation of the rights of these groups.

About Author

Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.