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IFC, Ministry of Petroleum help boost critical energy infrastructure in Egypt

The International Finance Corporation (IFC), a member of the World Bank Group (WBG), announced on Wednesday a joint effort with Egypt’s Ministry of Petroleum and Mineral Resources that aims to support Egypt in becoming a regional energy hub for the eastern Mediterranean region as well as improve its energy infrastructure. The IFC signed a memorandum …

Shaimaa Al-Aees

ACUD plans to apply comprehensive electricity metering system

The Administrative Capital for Urban Development (ACUD) held a meeting with a number of smart electricity meter manufacturers and suppliers to discuss applying a comprehensive electricity metering system in the New Administrative Capital. Sources told Daily News Egypt that ACUD aims to launch a comprehensive installing system of electricity metres according to the highest international …

Mohamed Farag

Vortex Energy sells 49% stake in 998 MW Pan-European wind energy portfolio

Vortex Energy, a European renewable energy platform managed by the private equity arm of EFG Hermes, completed on Wednesday the divestiture of a 49% stake in its Pan-European operational wind power portfolio managed and co-owned by EDPR, selling the stake to institutional investors advised by J.P. Morgan Asset Management. The portfolio includes 56 operational wind …

Daily News Egypt

British Petroceltic files arbitration case against EGPC

British Petroceltic announced on Sunday filing an arbitration case against the Egyptian General Petroleum Corporation (EGPC) at the World Bank Group’s International Centre for Settlement of Investment Disputes (ICSID), according to a statement by the company. The EGPC reportedly breached its obligations in several gas sales agreements and was not able to pay its debts …

Daily News Egypt

Inpector Capital BV acquires Scimitar Production Egypt Ltd to invest in energy

Inpector Capital BV–whose majority is owned by Dutch investor Marcel Boekhoorn–declared that it acquired Scimitar Production Egypt Ltd to invest in the petroleum and energy sector in Egypt. Inpector Capital also announced that it has appointed Erik Vollebregt, an exploration and production industry veteran who served as the commercial and finance director of Shell Nigeria, …

Daily News Egypt

Electricity Ministry to disconnect service for delay in paying bills

The Minister of Electricity and Renewable Energy, Mohamed Shaker, issued strict instructions to the heads of electricity distribution companies to collect all delayed bills on homes, shops, and government agencies. Electricity Ministry sources told Daily News Egypt that the Egyptian Electricity Holding Company decided to disconnect the service from those who refuse to pay their …

Daily News Egypt

Prime Minister orders restructuring Egypt ERA’s board of directors

Prime Minister Mostafa Madbouly issued a decree to restructure the board of directors of the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA). Daily News Egypt obtained a copy of the decree which includes the new formation of the board of directors that will last for three years under the chairpersonship of the Minister …

Mohamed Farag

Fifth Coaltrans Cairo discusses expansion in using coal in industrialisation

The fifth edition of Coaltrans Conference held in Cairo between 18-19 March discussed the possibilities of using coal as an alternative source of energy. The conference discussed the Egyptian government’s desire to shift to using coal in energy generation, along with other numerous industries. Coal has become a necessary adoption thanks to its low production …

Daily News Egypt

NREA, Lekela sign usufruct agreement to establish wind farm

The New and Renewable Energy Authority (NREA) has signed a usufruct agreement with Lekela Power to launch a wind farm with 250MW capacity in Suez governorate. Chairperson of the NREA, Mohamed El Khayat, told Daily News Egypt that the company has received the land allocated for the project upon a usufruct agreement signed in Suez …

Mohamed Farag