Attaqa Mountain Pumped Storage Power Plant is an ongoing

hydroelectricity Hydroelectricity, or hydroelectric power, is Electricity generation, electricity generated from hydropower (water power). Hydropower supplies one sixth of the world's electricity, almost 4500 TWh in 2020, which is more than all other Renewabl ...

power plant currently in development with a planned total capacity of 2400

MWp MWp or MWP may refer to: * Medieval Warm Period, a time of warm climate in the North Atlantic region * Mega Watt peak, a solar power measure in photo-voltaic (PV) industry to describe a unit's Nominal power (photovoltaic)#Watt-peak, nominal power * ...

. It is located in

Suez Suez ( ar, السويس '; ) is a seaport city (population of about 750,000 ) in north-eastern Egypt, located on the north coast of the Gulf of Suez (a branch of the Red Sea), near the southern terminus of the Suez Canal, having the same boun ...

Egypt Egypt ( ar, مصر , ), officially the Arab Republic of Egypt, is a transcontinental country spanning the northeast corner of Africa and southwest corner of Asia via a land bridge formed by the Sinai Peninsula. It is bordered by the Mediter ...

and is set to be completed in 2024.

Financial impacts

The

Exim Bank of China The Export–Import Bank of China (Chexim - China Exim Bank) () is one of two institutional banks in China chartered to implement the state policies in industry, foreign trade, economy, and foreign aid to other developing countries, and prov ...

agreed to provide $2.6b for the project and the agreement on the interest rate, repayment period of the loan and grace period are being negotiated.

References

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External links

Interactive scholarly application
Hydroelectric power stations in Egypt Suez