Saudi Fund For Development Offers US$200 Mln To Renewable Energy Projects

The Saudi Fund for Development (SFD) has approved to offer US$ 200 million to finance renewable energy projects and covert West Damietta Power Plant and Al Shabab Power Station to combined cycle power stations, as well as increasing the plants’ capacities by 700 MW for each without using any kind of fuel. The program will be set in the upcoming months, said an official at the Egyptian Ministry of Electricity.

The World Bank and African Development Bank have approved to finance the establishment of 1950-MW power complex in South Helwan. The project is part of the five-year plan set by the Ministry of Electricity for 2012-2017.

There are 15 under maintenance electricity distribution units, which produce 3000 MW, and will be in service in Q1 of 2013.

The new projects, which include 1300-MW power plant in Ain Sokhna, 650-MW plant in Benha and the first phase of 1500-MW power generation plant in North Giza, will be in service by the beginning of summer 2013.