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Siemens has signed a US$9bn deal with Egypt, to supply the country with gas and wind power plants that would boost its electricity generation capacity by 50 per cent
According to the company, this is Siemens’ single-largest order to date and is expected to add 16.4GW to the North African nation’s national grid.
The order includes the provision of 600 wind turbines, and the development of a rotor-blade manufacturing facility. Three power plants – Beni Suef, Burullus and New Capital will be powered by eight H-Class gas turbines, provided by Siemens. The German company will work with Egyptian partners ElSewedy Electric and Orascom Construction to supply the power plants, which will each have a capacity of 4.8GW.
The agreement will be financed by Siemens Financial Services, supported by export credit agencies in Germany and Denmark, added officials from Siemens.
The deal elaborates on a series of MoUs that were announced in March 2015 with Siemens and other suppliers such as General Electric (GE), in a bid to boost Egypt’s power generating capacity.
According to government officials, the country is going through a severe power crisis and the current infrastructure is unable to support the growing economy.