Siemens to add 1,200MW to national electricity grid at End-May - AMWAL AL GHAD / DAILY NEWS EGYPT

Saturday, 18 March 2017 12:04

Siemens is set to add 1,200MW to the national electricity grid by the end of May from power plants in the New Administrative Capital and Borollos.

Sources at the Egyptian Electricity Holding Company (EEHC) said that, according to an agreement with Siemens and Orascom, the New Administrative Capital power plant will add 400MW by the end of March, in addition to 800MW to be added from the Borollos power plant in the end of May.

The sheer capacity spanning Siemens’ three projects in Beni Suef, the New Administrative Capital, and Borollos that will be added before summer amounts to 6,000MW; where 4,800MW have already been linked to the grid pending commercial operation.

EuroAfrica cable enters crucial phase - CYPRUS MAIL

February 7, 2017

Angelos Anastasiou

The EuroAfrica Interconnector, a planned subsea electric cable connecting the Egyptian, Cypriot and Greek power grids to continental Europe has entered a crucial phase of conducting project studies with a signing ceremony for a memorandum of understanding among all parties having taken place on Monday.

The officials attending the signing ceremony in Cairo endorsed their commitment to implementing the EuroAfrica Interconnector energy bridge connecting Egypt, Cyprus, and Greece with the European electric network with 2000MW.
The aim of EuroAfrica is to offer significant economic and geopolitical benefits to the involved countries and contribute to the European Union’s target for 10 per cent of electricity interconnection between member states.

President of EuroAfrica Interconnector Nasos Ktorides said that this inspired partnership can only bring benefits to the three participating nations.

Greek power utility shareholders approve grid spin-off - EURACTIV.COM / REUTERS

18 January 2017

Shareholders of Greece’s power utility Public Power Corp. (PPC) approved yesterday (17 January) the transfer of a 51% stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece’s bailout programme.

Under a legislated scheme aiming at keeping ADMIE under state control, PPC will sell a 24% stake to China’s State Grid for €320 million and set up a special vehicle to transfer a cost-free 51% stake to the state and existing private shareholders.

“The extraordinary PPC shareholders meeting approved the procedures in order to conclude ADMIE’s spin-off,” the energy ministry said in a statement.

In 2015, Greece signed up to its third international bailout since the debt crisis erupted, agreeing to cut spending, pursue reforms and speed up privatisations to shore up its finances.