The Egyptian Electricity Holding Company (EEHC) will complete evaluating the financial bids offered by three alliances competing for the implementation of Red Sea coast’s Hamrawein coal-fired power plant in March.
Sources from the EEHC told Daily News Egypt that a committee from the company and the Belgian consulting office Tractebel will complete the evaluation soon, adding that the minister of electricity will declare the winning alliance.
The sources expected that EEHC will announce the name of the winning alliance by the end of next month, after reviewing the contracts and presenting them to the cabinet for approval.
According to the sources, General Electric presented the highest bid in terms of the cost of construction and the selling price of generated energy, followed by Shanghai Electric, then the consortium of Mitsubishi Hitachi Power System, Orascom Construction, and Elsewedy.
The winning consortium will carry out the project under the EPC+Finance scheme, which obliges the implementing company to provide the required financing, while the EEHC will repay the loan after the completion of the project.
The coal-fired power plant is included in the 2022-2027 plan, the sources added, pointing out that the construction of a coal-fired power plant needs a period of 4-6 years and that the ministry plans to produce about 7,000 MW from coal-fired plants by 2025.