Page 13 - AfrElec Week 50 2020

AfrElec NEWS IN BRIEF AfrElec

The Chairman, Board of Directors, Egbin largest dairy farm in Africa, to cover part of its profit
Power Plc, Mr Temitope Shonubi, said in energy consumption with renewable energy
October that Egbin had the capacity to under a 25-year power purchase agreement South African power company Eskom made
evacuate at least 860MW of power but was (PPA). a profit of ZAR83mn rand ($5.5mn) in the
producing about 500MW. The plant is the first private-to-private six months to the end of September as higher
Six of the nation’s 29 power plants were not renewable energy project financed by the electricity tariffs offset lower sales during the
generating electricity as of 6am on Sunday, EBRD in Egypt involving direct electricity COVID-19 pandemic.
four of which were built under the National supply from a privately owned generator to a However, the state-owned utility, which
Integrated Power Project. private off-taker through a corporate PPA. is reliant on government bailouts, said its
The idle plants were Alaoji, Olorunsogo II, The project supports the Egyptian performance would deteriorate in the second
Ihovbor, Gbarain, AES and ASCO. Government’s target of achieving 20% of the half of its financial year and it would report an
country’s electricity generation capacity from annual loss of about ZAR22bn.
renewable sources by 2022 and 42% by 2035. Eskom tends to report stronger results in
Heike Harmgart, EBRD Managing the first six months of its fiscal year because of
RENEWABLES Director for the southern and eastern factors including higher demand during the
Mediterranean (SEMED) region said: “We southern hemisphere’s winter, lower purchases
EBRD to lend $4.2mn for are very proud to partner with TAQA Arabia, from independent power producers and less
routine maintenance.
Egypt’s largest private integrated energy
renewables in Egypt company, and to support its ambitious plans 2019, Eskom made a revised ZAR1.9bn rand
In the six months to the end of September
to scale up green private-to-private capacity.
The European Bank for Reconstruction and Private energy solution providers such as loss.
Development (EBRD) is supporting the TAQA Arabia have a key role to play in Eskom said at a news conference that its
expansion of renewable energy in Egypt with supporting Egypt’s ongoing energy sector debt had fallen to about ZAR464bn rand by
an initial loan worth $4.2mn (£3m). transition and liberalisation.” the end of September from ZAR484bn rand
TAQA PV for Solar Energy, TAQA Arabia’s in March as repayments outstripped new debt
renewable energy subsidiary, will use the raised.
money for one of the first green private-to-
private projects in Egypt. ESKOM
The first tranche of the loan will finance
the construction of a solar power plant, with South Africa’s Eskom ESKOM
a capacity of 6MW, at Dina Farms in the
Beheira governorate, 80 kilometres from the reports small half-year Cost savings alone will not
capital city of Cairo.
The solar plant will enable Dina Farms, the

Week 50 17•December•2020 www. NEWSBASE .com P13