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Egypt

Egypt

SGRE's Egyptian 2GW on hold

EGYPT: Plans by Siemens Gamesa Renewable Energy (SGRE) to develop and supply up to 2GW of wind power projects in Egypt have reached a stumbling block over the tariff, the country's New and Renewable Energy Authority (NREA) has confirmed.

Some of the planned projects are located in Egypt's Nile Valley
Some of the planned projects are located in Egypt's Nile Valley

The Egyptian Electricity Transmission Company (EETC) is offering SGRE a 20-year power purchase agreement at the rate of $38.20/MWh, to match a bid by the Engie-led consortium for 250MW at Ras Ghareb, which, seperately, is being supplied turbines by SGRE.

According to local media, SGRE is seeking at least $50/MWh as the initial agreement was part of a wider electricity generation deal and included establishing a manufacturing site in the country.

Siemens, as it then was, signed agreements with the Egyptian government in 2015 to develop up to 2GW and build a blade factory in the Ain Soukhna region and to supply around 600 turbines to these projects in the Gulf of Suez and West Nile regions.

The first 180MW phase was originally expected to start building in 2016.

According to Egyptian media, the options now on the table are to develop just 200MW at the lower tariff, postpone the projects or to cancel the whole thing entirely.

SGRE declined to comment.

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