Environmental Review Summary
Project Number
9818
Company Name
EDF PORT SAID EAST POWER S.A.E.
Date ERS Disclosed
Oct 30, 2000
Country
Egypt, Arab Republic of
Region
Africa
Environmental Category
A - Significant
Status
Completed
Previous Events
Approved : Dec 29, 2000
Signed : Mar 4, 2001
Invested : Aug 16, 2001
Sector
Gas - Thermal Power Generation
Industry
Infrastructure
Department
Regional Industry - INF Africa
Project Description
Electricite de France International S.A. (EDFI), the overseas investment arm of Electricite de France, the French public power utility, has recently been awarded the "Port Said" (682.5 MW) and the "Suez Gulf" (682.5 MW) BOOT power projects, both located in Egypt, following a competitive bidding process. Both projects share the same design and technology (natural gas-fired steam generation plants).
The Port Said project consists of the development, construction and operation of a 682.5 MW steam generation plant to be located near the city of Port Said on the Mediterranean cost of Egypt. The plant will be capable of being fueled with natural gas and residual fuel oil, with natural gas being the primary fuel. The energy produced will be sold to the Egyptian Electricity Authority, the national utility, on the basis of a 20-year Power Purchase Agreement that was signed in October 1999. Similarly, a fuel supply agreement was signed in October 1999 with Gasco, a subsidiary of the Egyptian General Petroleum Corporation, the state-owned company that controls the hydrocarbon sector in Egypt. The total project cost is estimated at about US$375 million and commercial operation is expected in mid 2003.
The project is in line with the Government of Egypt’s policy of encouraging the private sector to build, own and operate power generation plants. In 1996, a law was introduced in Egypt that authorized the private sector to build, own, operate and transfer electric power generation plants. Being one of the first IPPs in the country (following the Sidi Krir Power Project that was approved by IFC''s Board in June 1999), the project will help Egypt in its goal to privatize various infrastructure sectors, including power, and will serve as a model for future private power projects in the region.
The Port Said project consists of the development, construction and operation of a 682.5 MW steam generation plant to be located near the city of Port Said on the Mediterranean cost of Egypt. The plant will be capable of being fueled with natural gas and residual fuel oil, with natural gas being the primary fuel. The energy produced will be sold to the Egyptian Electricity Authority, the national utility, on the basis of a 20-year Power Purchase Agreement that was signed in October 1999. Similarly, a fuel supply agreement was signed in October 1999 with Gasco, a subsidiary of the Egyptian General Petroleum Corporation, the state-owned company that controls the hydrocarbon sector in Egypt. The total project cost is estimated at about US$375 million and commercial operation is expected in mid 2003.
The project is in line with the Government of Egypt’s policy of encouraging the private sector to build, own and operate power generation plants. In 1996, a law was introduced in Egypt that authorized the private sector to build, own, operate and transfer electric power generation plants. Being one of the first IPPs in the country (following the Sidi Krir Power Project that was approved by IFC''s Board in June 1999), the project will help Egypt in its goal to privatize various infrastructure sectors, including power, and will serve as a model for future private power projects in the region.
