Egypt is set to reissue the tender for a 2,100-megawatt (MW) pumped storage hydroelectric plant at Ataka Mountain after the initially selected developer, China’s state-owned Sinohydro, was unable to secure financing, according to a report by Asharq Business, citing an unnamed government official.
Zawya reports that Cairo had originally signed a framework agreement with Sinohydro in 2015 for the $2.3 billion project. However, the deal was revoked after the Chinese company requested government support in securing funding—a request that was denied.
Despite the withdrawal, Egypt remains committed to the project and plans to invite new investors, with interest reportedly coming from Indian, Chinese, and European companies.
In October 2023, Energy China signed an agreement with Egypt’s Ministry of Electricity and Renewable Energy to conduct a technical and financial study for a 2,000 MW pumped storage power plant.
