In a stock market filing, Elsewedy Electric for Trading and Distribution said it had signed the agreement with
EETC to work on the project.
The study will include a comprehensive training program for the
EETC planning team who will jointly execute the various studies together with Siemens.
The deal allows the aircraft to be financed by the proceeds from the British Airways 2019-1
EETC certificates and JOLCO equity arranged by NBB and BBAM.
In response to such proposals, a high-level committee was formed by the Egyptian Electricity Transmission Company (
EETC), New and Renewable Energy Authority (NREA) and Egyptian Electricity Holding Company (EEHC) to review projects.
"As a result of Egypt's energy transition, the demands placed on our grid infrastructure are continually increasing," remarked Sabah Meshaly, the chairman of
EETC.
The change reflects Fitch's observation that class B certificates typically remain well overcollateralized even in moderate stress scenarios, thus giving reasonable assurance that certificate-holders should receive significant recovery based on collateral values alone, despite their subordinate position to the senior certificates in an
EETC transaction.
The
EETC is a probabilistic weighted function of all cases of delay to occur that incorporates the cases of successful and missed transfers with respect to transferring passengers and the cases of early-arriving and late-arriving with respect to nontransferring passengers.
The location was chosen as it benefits from strong wind currents and so is expected to enable the wind farm to sell competitively priced power to the
EETC.
EETC Chairperson Gamal Abdel Rehim said, "this project is a direct reflection of our efforts to continuously upgrade Egypt's national grid, and in so doing, delivering increased energy supply and support toward the diversification of the country's energy mix."
Client Name :
EETC - Egyptian Electricity Transmission Co., Central Egypt Electricity Zone, The Cashier