Latest news with #EgyptianElectricityHoldingCompany
Egypt Today
5 days ago
- Business
- Egypt Today
Egypt, Germany Advance Green Energy Ties with €21 Million Debt Swap Deal
CAIRO – 26 May 2025: Egypt has signed a new €21 million debt swap agreement with Germany, further strengthening their long-standing development cooperation. The agreement brings together the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and Germany's KfW Development Bank. This funding will help bolster Egypt's renewable and sustainable energy infrastructure, supporting efforts to enhance energy security and transition to cleaner sources. With this latest deal, the total value of debt swap tranches executed between the two countries now stands at approximately €297 million—equivalent to around EGP 16.8 billion. Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, stressed the significance of the agreement, noting it extends a development partnership that began in 2011 and has since delivered numerous impactful projects. The agreement aligns with Germany's €250 million pledge at COP27 to support Egypt's NWFE (Nexus of Water, Food, and Energy) program, including €104 million allocated through debt swaps. One of the program's milestones came in 2023 with a €54 million agreement to expand Egypt's electricity transmission network and connect two major Red Sea wind farms—Noes and Amunet, with a combined capacity of 500 MW—to the national grid. A second tranche under the NWFE platform, valued at €50 million, is currently in the works. The Egypt-Germany debt swap program is governed by a structured framework that ensures effective implementation and optimal use of funds. The Ministry of Planning plays a leading role in coordinating project selection, conducting negotiations with KfW, and managing the technical and financial components in collaboration with national stakeholders.
Zawya
14-04-2025
- Business
- Zawya
Schneider Electric to digitize Sharm El Sheikh Power Control Center in new agreement with Ministry of Electricity
Schneider Electric has signed a new agreement with Egypt's Ministry of Electricity and the Egyptian Electricity Holding Company to digitize the power control system of the Sharm El Sheikh distribution control center, Invest-Gate reports. The agreement is part of the project's second phase, which also includes control centers in Minya, Upper Egypt, and South Delta. The deal was inked during the Egyptian-French Business Forum, organized by Egypt's Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), Business France, and the French Embassy in Cairo. The event took place alongside French President Emmanuel Macron's recent visit to Egypt. Power distribution control centers play a key role in monitoring and managing electrical grids. The digital transformation will improve real-time response to outages, enable faster restoration of services, reduce network losses, and contribute to a more efficient smart grid by automating issue detection and resolution. Sebastien Riez, CEO of Schneider Electric Northeast Africa & Levant, commented, 'We are proud of our strategic partnership with the Ministry of Electricity and Renewable Energy, which accelerates the digital transformation of Egypt's energy sector. Digitizing distribution control centers is a vital step toward building a smarter, more efficient power grid that supports sustainable growth. We remain committed to delivering innovative, flexible solutions that enhance energy efficiency and support Egypt's sustainable energy future.'
