GE se­cures fi­nan­cial clo­sure to build four sub­sta­tions that will con­nect 7 GW of power

The four sub­sta­tions will con­nect 6.5 mil­lion homes to the na­tional grid

The Daily News Egypt - - Business -

Gen­eral Elec­tric (NYSE: GE) an­nounced that it has reached fi­nan­cial clo­sure for the con­tract worth ap­prox­i­mately $250m signed with the Egyp­tian Elec­tric­ity Trans­mis­sion Com­pany (EETC), ac­cord­ing to press state­ment on Mon­day.

The state­ment said that the project is fi­nanced by Deutsche Bank AG and HSBC France to pro­vide the com­pany’s ad­vanced grid so­lu­tions tech­nolo­gies to four sub­sta­tions across Egypt.

In July 2016, the agree­ment was signed for build­ing four sub­sta­tions in Mostas­merin in New Cairo, Beni Suef gov­er­norate, Tami El Am­did in Dakahlia Gov­er­norate and East Ismailia gov­er­norate.

The state­ment noted that the Al Mostas­merin sub­sta­tion, lo­cated in New Cairo, has al­ready been com­pleted and was con­nected to grid dur­ing July 2017; with the re­main­ing three sub­sta­tions ex­pected to be com­pleted by the end of 2018.

Th­ese four Gas-In­su­lated Sub­sta­tions will help con­nect 7 gi­gawatts (GW) of power to the na­tional grid, which is the equiv­a­lent to the elec­tric­ity needs of more than 6.5 mil­lion Egyp­tian homes.

Chair­man for EETC Ga­mal Abd El-Re­him said that the project is key in sup­port­ing the na­tional grid and brings GE’s lat­est tech­nolo­gies to sup­port Egypt’s grid in­fra­struc­ture. Egypt’s gen­er­a­tion ca­pac­ity has sig­nif­i­cantly in­creased over the last few years and with a target to di­ver­sify the en­ergy mix, the need to con­tinue re­in­forc­ing and up­grad­ing the grid is key.

Ay­man Khat­tab, Pres­i­dent and CEO for GE North East Africa said that the project is be­ing ex­e­cuted in a con­sor­tium with Rowad Mod­ern En­gi­neer­ing, a lead­ing Egyp­tian con­trac­tor, for the con­struc­tion work of the sub­sta­tions. This agree­ment is also cre­at­ing 40 di­rect jobs, as well as 320 in­di­rect em­ploy­ment op­por­tu­ni­ties for Egyp­tians.

As part of the con­tract, GE will also sup­ply a dig­i­tal data pro­tec­tion sys­tem, net­work man­age­ment sys­tem and telecom­mu­ni­ca­tion tech­nolo­gies, which will help con­nect the sub­sta­tions to the Na­tional En­ergy Con­trol Cen­tre and im­prove the net­work’s sta­bil­ity.The in­stal­la­tion of GE’s GIS will of­fer sev­eral so­lu­tions for Egypt’s grid in­clud­ing smarter net­works, con­di­tion-based main­te­nance and greater load con­trol to pre­vent out­ages.

With more than 140 ad­vanced gas tur­bines in­stalled in Egypt, GE helps gen­er­ate more than 15.5 GW of elec­tric­ity which is enough to power more than 15 mil­lion homes na­tion­wide.

Th­ese four Gas-In­su­lated Sub­sta­tions will help con­nect 7 GW of power to the na­tional grid

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