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Thursday, 26 December 2019

Egypt might be scrapping Shanghai Electric’s USD 4.4 bn “clean coal” power plant

INVESTMENT WATCH- Shanghai Electric’s USD 4.4 bn “clean coal” power plant could be scrapped or postponed: The Electricity Ministry is looking into potentially postponing or scrapping altogether the USD 4.4 bn, 6 GW-capacity “clean coal” power plant a Shanghai Electric-Hassan Allam-Dongfeng Electric consortium was set to construct in Hamrawein, unnamed sources tell the local press. According to the sources, the ministry sees no need for the plant at the current moment since there is already a surplus in Egypt’s energy production. The ministry is also mulling having the consortium mimic the UAE’s Al Nowais, whose USD 4 bn contract for another clean coal power plant was withdrawn in October. Al Nowais then bid on and was awarded contracts to construct 700 MW-worth of wind and solar power plants instead of the coal plant.

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