Electricité de France has signed an agreement with Malaysia’s Tanjong Energy for the sale of two thermal power plants and their operating company, located in Egypt.
The two gas-fired plants have a total capacity of 1,366 MW and provide some 10% of the country’s electricity generation. They are located on either side of the Suez Canal near the cities of Suez and Port-Said.and have been operational since 2003.
The sale price is $307 million and the deal is expected to conclude in 2006 given regulatory approvals.