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Tuesday, 25 September 2018

Edison, Qalaa scrap plans for USD 150 mn power plant in Abu Qir

Edison, Qalaa scrap plans for USD 150 mn power plant in Abu Qir: Edison and Qalaa Holdings have decided to scrap their plan to build a USD 150 mn combined cycle power plant in Abu Qir after determining that the project would not be financially feasible with current power tariffs, an unnamed source from Edison tells Al Masdar. Qalaa and Edison had planned to sell power from the 180 MW plant directly to consumers. The pair had begun talks with the Electricity Ministry over the plant back in 2016, and had reached an agreement with the EGPC to supply the plant with natural gas from Edison’s concession in Abu Qir.

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