EIB earmarks US$4 million for rehabilitation at hydropower plants in Georgia.

EIB earmarks US$4 million for rehabilitation at hydropower plants in Georgia.

As part of a US$285 million loan package to Georgia, the European Investment Bank (EIB) earmarked $4 million of the funds for application to rehabilitation at two hydropower projects in the former Soviet state, according to an EIB press release today. Engurhesi Ltd. (Engurhesi) is the state-owned company responsible for operating the facilities; the 1,250-MW […]

Red-Dead project in the Middle East will include hydropower.

Red-Dead project in the Middle East will include hydropower.

On Dec. 3, the government of Jordan announced it has raised about US$400 to finance the first phase of the US$10 billion Red Sea-Dead Sea Water Conveyance Project (Red-Dead). According to the Palestinian Authority, the multinational proposal is to build a 180 km pipeline engineered to carry up to two billion cubic meters (cm) of […]

Egypt and European Development Partners sign umbrella agreement for Gulf of Suez Windfarm.

Egypt and European Development Partners sign umbrella agreement for Gulf of Suez Windfarm.

The project budget amounts to 343 million Euros, of which 267 million Euros are planned to be provided by the European Development Partners: The EU will provide a grant of 30 million Euros and the Egyptian government has allocated 78 million Euros to the Gulf of Suez windfarm project. German Development Cooperation through KfW is […]

£82m EIB backing for Humber Gateway offshore transmission link.

£82m EIB backing for Humber Gateway offshore transmission link.

The EU’s investment bank is to provide GBP 82 million for the purchase, operation and maintenance of a new electricity transmission connection between the Humber Gateway offshore wind farm and the UK’s national electricity network. The new Humber Gateway transmission link will connect the 73 turbine 220 MW Humber Gateway wind farm to the mainland […]

Tanahu hydro: Prequalification of bidders to be done within a month.

Tanahu hydro: Prequalification of bidders to be done within a month.

Tanahu Hydropower Limited, a subsidiary of the Nepal Electricity Authority (NEA), is at the final stage of prequalifying bidders for the construction of the Tanahu Hydropower Project. A company official said the prequalification would be completed within a month. The 140 MW storage-type project is located on the Seti River in Tanahu district in western […]

AW Energy bags €10m EIB loan.

AW Energy bags €10m EIB loan.

Finnish wave developer AW Energy has secured a €10m loan from the European Investment Bank to accelerate the commercialisation of its WaveRoller technology. EU commissioner for research, science and innovation Carlos Moedas, EIB vice president Jan Vapaavuori and CEO of AW Energy John Liljelund signed the €10m agreement in Brussels today. AW Energy is about to […]

EIB approves new financing for transport and energy projects.

EIB approves new financing for transport and energy projects.

The Board of Directors of the European Investment Bank today approved EUR 7.4 billion of new financing for 38 projects across Europe and around the world. Negotiations for the approved loans are expected to be finalised in the coming months. The Board approved EUR 3 billion of new EIB financing for seventeen projects backed by […]

EIB supports the development of Kyrgyz Republic’s water and solid waste infrastructure.

EIB supports the development of Kyrgyz Republic’s water and solid waste infrastructure.

The European Investment Bank (EIB) is lending EUR 20 million to the Kyrgyz Republic to finance improvements in the municipal solid waste and water sectors from which some 850,000 people or 15% of the total population of the country will benefit. EIB Vice-President Jan Vapaavuori, who signed the loan on the first visit of a […]