Page 14 - AfrElec Week 40 2021

AfrElec GRID AfrElec

Egypt, Saudi sign electricity transmission

line construction contracts worth $1.8bn

EGYPT AFTER several years of planning, the Sau- transmission lines stretching over 1,350 km and
di-Egyptian electricity transmission line is to marine cables in the Gulf of Aqaba extended
enter the implementation stage following the about 22 km. The project is scheduled to be oper-
signing of contracts with three consortia of inter- ational in 2024.
national and local engineering and construction Saudi Electricity Transmission Company
companies. The transmission line will connect contracted Hitachi ABB Power Grids and Saudi
the two nation’s power grids at an estimated total Electrical and Mechanical Services consortium
cost of $1.8bn. for setting up the transformer stations at Tabuk
The electric grid interconnection project and Madinah, while Egyptian Electricity Trans-
between the two countries aims to exchange elec- mission Company sealed the deal with Hitachi
trical capacities amounting to 3,000 MW using a ABB Power Grids and Orascom Constructions
500-kV HVDC technology to take advantage of consortium to implement two transformer sta-
the divergence in peak electricity demand time tions on the Egyptian side.
between the two countries as well as the down- The overhead lines in Saudi are being put up
time in renewable energy generation. by the National Contracting Company. However,
The project consists of the construction of a consortium consisting of China Power Engi-
three high-voltage substations, the East Madinah neering Alliance – Giza Cables Industry – Xi’an
Station and the Tabuk Station in Saudi and the Electrical Engineering will be responsible for the
Badr Station in East Cairo, linked by overhead construction of overhead lines in Egypt.™

Energise Africa wins

Climate Action Award

AFRICA AFRICAN-FOCUSED crowdfunding investor returned GBP12mn ($15mn) in repayments to
Energise Africa has won a United Nations Global investors.
Climate Action Award for its work connecting The crowdfunder offers a series of small
small ethical investors in the UK with clean green bonds that are directly invested in known
energy access project across Africa. small-scale renewables projects across Africa.
Energise Africa was one of four winners in For example, EnergiseAfrica’ supported a
the Financing for Climate Friendly Investment GBP573,600 bond issued by Senegal’s OOLU
category. SARL to fund solar home systems for off-grid
The award recognised EnergiseAfrica’s families in Senegal.
work in offering an investing platform that “The whole team at Energise Africa are
has enabled thousands of people in the UK to delighted that our work has been recognised by
make small investments in climate action and the UN in this way. We’re on a mission to mobi-
in achieving the UN’s sustainable development lise billions in people-powered finance to bring
goals (SDGs), raising over GBP25mn ($30mn) affordable clean energy to all and accelerate a
to date to support renewable energy projects in transition to a low-carbon society. This UN Cli-
sub-Saharan Africa and beyond. mate Action award provides us with a fantastic
This is all made possible by the community platform through which we can engage with
of investors who are using their money to tackle multiple stakeholders and potential partners to
climate change and improve lives in Africa. demonstrate how our unique solution is getting
Energise Africa’s success has also been sup- capital to flow to sustainable businesses, com-
ported by funding partners UK aid, Good Ener- munities and climate-vulnerable countries and
gies Foundation and P4G. how this can be rapidly scaled in order to deliver
Energise Africa’s projects have already on the goals of the Paris Agreement,” said Lisa
reduced Africa’s CO2 emissions by 123,000 Ashford, CEO of Energise Africa.™
tonnes per year (tpy), while it has to date

P14 www. NEWSBASE .com Week 40 07•October•2021