Page 13 - AfrElec Week 39

AfrElec RENEWABLES AfrElec

Vestas to supply 252 MW of turbines

to Egypt’s Suez 1 wind project

EGYPT EGYPT’S New and Renewable Energy Authority “Our wide portfolio of solutions and ser-
(NREA) has placed a 252-MW order with Vestas vices can help NREA ensure price stability and
for the Gulf of Suez 1 wind project in the Gulf security of energy supply over time, and in turn,
of Suez. demand less reliance on fossil-fuel based energy
Vestas is to supply and install 70 V105-3.45 sources”.
MW wind turbines in 3.6-MW Power Optimised The project is expected to reach 1,027 GWh
Mode and a three-year Active Output Manage- per year, saving 560,000 tonnes per year (tpy) of
ment 4000 (AOM 4000) service agreement. CO2 emission, according to NREA estimates.
The technology aims to maximise the pro- It will be jointly financed by the European
ject’s annual energy production while meeting Investment Bank, KfW, Agence Française de
the local tip-height restriction and the national Développement and the European Commission.
grid code requirements. Vestas was one of the first contributors to the
Vestas will also manage the engineering, pro- development of Egypt’s wind energy infrastruc-
curement and construction (EPC) side of the ture with the installation of 123 Vestas wind tur-
construction project, which includes civil and bines in Hurghada and Zafarana in 2004.
electrical works and the substation for the con- Vestas currently has more than 1.5 GW of
nection to the national grid. installed or under construction capacity in the
The Gulf of Suez 1 wind project is planned to Middle East and North Africa, including in Jor-
be fully operational in 2023. dan, Saudi Arabia, the United Arab Emirates,
“Building on our 40 years of experience and Bahrain, Morocco, Senegal, and Cape Verde.
our leadership in the renewable energy sector, With a growing number of renewable energy
we are proud to be back in Egypt and continue projects planned or underway and with ambi-
our work there to help transform its energy tious renewable energy targets in nearly all
infrastructure into a reliable system of clean countries, Vestas now expects the region to be
power supply”, said Muhamed Bou-Zeid, gen- a significant and promising player in the global
eral manager of Vestas Middle East and North energy transition.™
Africa (MENA).
NEWS IN BRIEF

last year but published on September 17, the have a huge impact,” Nezir Sinani, co-director
POLICY IFC will no longer make equity investments in of Recourse, a Netherlands-based nonprofit
financial institutions that do not have a plan to organisation which has been lobbying the
IFC to introduce strict new phase out support for coal. IFC, told Reuters.
The IFC will also use various conditions
climate lending rules attached to its existing and new equity
investments to ensure that the banks involved
The International Finance Corporation (IFC) reduce their exposure to coal to zero by 2030. GAS-FIRED GENERATION
has introduced new climate change conditions The IFC exerts considerable influence
for its investments in commercial banks in a over commercial banks in emerging markets, GE restores gas turbines
bid to make lenders reduce their support to which often turn to the Washington-based
coal projects in Africa and Asia. lender for both access to capital and the kind adding 360MW to Nigeria’s
The IFC, which owns equity stakes in many of governance expertise that helps them build
large commercial banks in emerging markets, credibility among investors. grid
hopes the restrictions will trigger other Apart from the IFC’s being a major
investors to exit the coal sector. investor in its own right, its standards are GE has announced the successful
“I think this is an important milestone. widely adopted by the private sector. rehabilitation of three 9E.03 gas turbines at
If we look historically, our environmental Climate change campaigners welcomed three Niger Delta Power Holding Company
policies and procedures have been adopted by the move, saying it sent a clear message to the (NDPHC) power plants in Calabar and
both other development finance institutions commercial banking and insurance sectors Sapele, Nigeria.
and the market in general,” Peter Cashion, that public finances would no longer be made According to a company statement, these
head of climate finance in the IFC’s Financial available for institutions backing coal projects. operations reduced the risk of unplanned
Institutions Group, told Reuters. “We expect an avalanche of different downtime of its power generation equipment,
Under the new rules, in effect since July institutions to adopt a similar approach, it will enabling the plants to reliably secure and

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