Egypt: NWFE-Energy Pillar - Decommissioning Master-Plan (EBRD-16947)

  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Government of Egypt
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 480.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 23, 2024

Disclosed by Bank Jul 5, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the Egyptian authorities (coordinated by the Ministry of International Cooperation (MOIC) and supported by EBRD) have developed a new initiative, representing the Energy Pillar of the Nexus Water-Food-Energy Programme (NWFE-EP), the flagship Egypt initiative at COP27.

NWFE-EP aims at closing 5,000 MW of existing inefficient oil and gas-fuelled power generation capacity (circa 9% of Egypt's total fossil fuel installed capacity) and facilitate investments of >USD 10 billion (primarily from commercial lenders and investors) to support the installation of 10,000 MW of new renewable energy capacity through a range of market routes, open to local and international project developers.

This transformational private climate investment is facilitated by the USD 480 million public investment pillar of the NWFE-EP, which comprises two main elements: (i) investment in decommissioning, dismantling and recycling of fossil-fuelled plants and (ii) investment in grid strengthening and energy storage to facilitate the absorption of large quantities of variable renewable energy generation.

The EBRD's response to enable these investments and tackle financial and institutional bottlenecks through NWFE-EP cooperation platform is a proposal to create the NWFE-EP Technical Support Unit (TSU), an independent dedicated unit hosted in EBRD Cairo RO throughout the implementation of the programme. The NWFE-EP TSU will focus on building a strong financing framework and a policy-dialogue driven structure of institutional support. This is to ensure the implementation of the NWFE-EP initiative in accordance with the Partnership Agreement and set an outline for well-structured institutional support and bankable sub-projects.

NWFE-EP provides a platform to support the accelerated retirement of inefficient oil and gas fired plants in full compliance with international environmental health and safety standards in accordance with the electricity sector development plans. The decommissioning master-plan will provide a comprehensive strategic framework for the entire decommissioning process.

Investment Description
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Investment type and amount not available at the time of the snapshot.

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