- Egypt to rehabilitate Aswan Hydroelectric power plant.
- The German government is financing the project.
The German Development Bank (KfW) has approved a €26 million loan to Egypt to implement the second phase of the Aswan Hydroelectric Power Plant Rehabilitation Project.
According to a news source, the financing agreement was signed recently between Rania Al-Mashat, the Egyptian Minister of International Cooperation, and Bernd Siegfried, Director of the Kreditanstalt für Wiederaufbau (KfW) office in Cairo.
The rehabilitation project focuses on replacing the hydroelectric plant’s transformers and the renewal of the thrust bearing cooling systems. The work is aimed at maintaining the operational efficiency of the entire facility.
Co-financed by Hydro Plants Generation Company (HPGC), the project was tendered in 2020.