Mounting an effort to combat the blackouts and brownouts that are familiar features of life in Cairo, the Egyptian government recently secured the final piece of financing for a new 1,500-MW, combined-cycle gas-fired powerplant designed to keep the capital city’s lights on longer. With Egypt’s electricity demand set to grow 50% by 2017, the planned $1.3-billion Giza North plant represents a small but critical step toward power sufficiency.
A $384-million loan from the European Investment Bank completed financial requirements for the plant, which is 30 kilometers northwest of Cairo. The World Bank board of directors approved a $600-million loan for the project last June. The government and the Organization of Petroleum Exporting States will make up the balance.