Hitachi ABB Power Grids has been selected as the lead in a consortium that has been awarded a major contract worth several hundreds of millions of US dollars from the Saudi Electricity Company and the Egyptian Electricity Transmission Company.
The award is for the first-ever large-scale HVDC interconnection in the Middle East and North Africa, enabling the Kingdom of Saudi Arabia (KSA) and the Arab Republic of Egypt to exchange up to 3,000 MW of electricity at 500 kV – much of which is expected to be generated from renewable energy sources in the future, using 1,350 km overhead power lines and a subsea cable across the Red Sea.
The power will be able to flow in multiple directions between the three terminals – for instance, from Tabuk to Badr, but also simultaneously from Tabuk to Medina. With the state-of-the-art MACH control system, the power flow can be controlled and reversed between the stations without interrupting the continuous power flow, providing maximum flexibility, grid resilience, and supply security to both countries.
The global technology and market leader will be delivering advanced technologies for the high-voltage direct current (HVDC) power link between the countries. The business will also be providing system studies, design and engineering, transformers, valves, high-voltage equipment, technical advisory, commissioning, and service.
Vortex Energy, a global renewable energy platform managed by the private equity arm of EFG Hermes, has reached a first close of US$200 million (including a US$25 million conditional commitment) for its Vortex Energy IV fund.
Read moreThe European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank has signed a US$114 million financing package with ACWA Power for the construction of the largest private solar plant in Egypt, the Kom Ombo project.
Read moreACWA Power has finalised the project agreements for the 200MW Kom Ombo PV plant in Egypt.
Read moreAMEA Power, a subsidiary of Al Nowais Investments (ANI), has signed a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) for a 200 MW solar PV project and a 500 MW wind power project in Egypt.
Read more
Siemens Gamesa will install 96 SG 2.6-114 turbines for the 250 MW West Bakr Wind project which is owned by Lekela through a turnkey EPC contract and will provide long term maintenance through a 15-year service agreement.
Read more