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Deals SACE - 01 March 2022

SACE and Société Générale for Turboden: green loan to support Made in Brescia exports

A new green loan is launched to support an important international supply of Made in Italy technology. Thanks to a 21 million euro loan granted by Societé Générale and guaranteed by SACE to the multinational company SACYR S.A., specialized in the sectors of Infrastructure and Services Concessions, Turboden - a Brescia-based company active in the design and production of ORC (Organic Rankine Cycle) systems, which generate energy by exploiting multiple sources - will export an innovative system for decarbonisation of the Oil&Gas sector contributing to the reduction of 120 thousand tons per year of carbon dioxide emissions in Egypt, a country that, this year, will host the United Nations COP27 focused precisely on the fight against climate change.
 
The operation is part of a larger project relating to the expansion of the gas compression plant in Dahshour, in the south of Cairo, built by the leading multinational company SACYR, head of Engineering and Procurment, and buyer of the Turboden subcontract, on behalf of the Egyptian Natural Gas Company (GASCO). In detail, Turboden will provide an innovative system (based on Organic Rankine Cycle "ORC" technology for a total of 28 MWel), that will generate 192 GWh of green electricity per year by recovering the heat of the exhaust gases. Therefore, the energy generated will save 65 million cubic meters of natural gas every year, avoiding the emission of 120 thousand tons of carbon dioxide.
 
Due to its importance in the context of the ecological transition, the Dahshour project is financed by the European Bank for Reconstruction and Development, which annually monitors its environmental and social performance as part of the "Green Economy Transition" program.
 
"Thanks to the collaboration with SACE and Société Générale, Turboden has been able to implement an innovative project for the customer GASCO, which will lead the decarbonization process of the Egyptian Oil & Gas industry. This project, based on ORC technology, will improve the sustainability of the GASCO gas compression station by drastically reducing its natural gas consumption. Turboden's ORC technology, totally water-free, will make it possible to produce the electricity needed by the compressor station without any CO2 emissions". Declares Paolo Bertuzzi - CEO and Managing Director of Turboden S.p.A.
 
"It is an exciting challenge for Sacyr to lead this energy transition project that will increase the gas compression capacity of the Dashour plant by 50% thanks to the introduction of cutting-edge technologies allowing the recovery of waste heat from gas turbines in order to generate electricity 

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