German industrial conglomerate Siemens AG is scheduled to start trial operations at Borollos power plant Tomorrow, a source at Egyptian electricity ministry stated Monday.
The ministry would provide the German firm with electric capacity to run and test the plant through linking it with Abu Qir power plant at a capacity of 500 KV for the trials, the source said.
At the end of September 2016, trial operations were conducted at Beni Suef power plant, the source noted, adding that plant’s production units are being tested to be linked to the national electricity grid by the end of November.
The operation tests of the New Administrative Capital power plant were also conducted after 500 KV was provided from El-Tebbin and Ain Sokhna plants to start the actual production from the production units in 30 days.
Egyptian Electricity Holding Company signed contracts with Siemens last year to implement three combined-cycle power plants with a total capacity of 14,400 MW. The three power plants are Borollos, Beni Suef, and the New Administrative Capital.
The Ministry of Electricity paid Siemens €2.1bn for the construction it carried out, and the supply of the turbines and equipment of the three aforementioned power plants.
The total value of the contract stands at €6bn, and three German banks are financing the projects with €4.1bn. Arab banks are also providing the project’s financing in Egyptian pounds to pay the dues of the Egyptian companies working in the project, including El Sewedy and Orascom.
The Ministry of Electricity has contracted with Siemens to establish the three projects through the EBC+ Finance scheme. The company has decided to carry out the design, construction, and financing, while the Egyptian Electricity Holding Company will repay the loan over several years.
Source: Daily News Egypt