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The 1,800 MW Damanhour CCGT project was signed by the Bank in November 2015 to help Egypt reduce its massive energy shortages. The project is based on the most efficient technology currently available, capable of achieving 58 per cent electric efficiency in the very challenging local climatic conditions. It is also our first climate resilience transaction in the thermal power generation sector.

Given the anticipated water stress in the project region, a fully dry cooling system (ACC) was chosen instead of the traditional water-based solutions, saving around 10 million m3 of water per year. The new plant will also result in around 1.5 million tonnes of CO2 savings per year.