GAFA tax: Companies have received their tax notice

"Companies subject to this tax have received a tax notice for the payment of the 2020 installments," said Bruno Lemaire. Not to mention the possible wrath of the American authorities, the GAFA have already taken the lead. Here's how.   The negotiations on the digital tax at the OECD have come to naught. “We had suspended the collection of the tax until the OECD negotiations were concluded. This negotiation failed, so we will collect a tax on the digital giants next December, "explained Bruno Le Maire, the French Minister of the Economy, in mid-October. "Companies subject to this tax have received a tax notice for the payment of the 2020 installments," the Ministry of the Economy said today. Facebook and Amazon "are among the companies" which have been notified "in recent days", assures for its part the Financial Times. So after firing the first ones, what should the French authorities expect from now on? Has

EGYPT: Siemens Gamesa delivers first wind turbine blades for West Bakr project

The construction site of the West Bakr wind farm in northeastern Egypt began to crumble. On October 21, 2020, the wind turbine manufacturer Siemens Gamesa Renewable Energy SA began delivering the wind turbine blades to the project site. These will be mounted on the 96 turbines for a production capacity of 250 megawatts (MW).

Siemens Gamesa delivers first wind turbine blades for West Bakr projectSiemens Gamesa delivers first wind turbine blades for West Bakr project

The certainty is reinforced on the respect of the delivery time of the West Bakr wind farm, located 30 km northeast of Ras Ghareb in Egypt, in the Gulf of Suez. The structure could indeed be delivered by the end of 2021. Because eight months after the ceremony of laying the first stone, the disposal of the first wind turbine fins on the site of the construction site has started. This operation was launched on October 21, 2020 by the wind turbine manufacturer Siemens Gamesa Renewable Energy SA, which is also responsible for the construction of the wind farm under an engineering, supply and construction contract (EPC ) with the project developer, Lekela Power.

Wind turbine blades will be mounted on a total of 96 SG 2.6-114 turbine units. When completed and connected to the grid, the West Bakr farm with a capacity of 250 MW will increase Egypt's wind capacity by 18%. An increase in electrical power to meet the consumption needs of more than 350,000 households in an affordable and sustainable manner. 

Cost of the work, $ 252 million

The West Bakr wind project is fully funded by Lekela to the tune of $ 252 million. The Africa-focused renewable energy company has raised this amount from several investors. These include the International Finance Corporation (IFC), the corporate finance arm of the World Bank, the European Bank for Reconstruction and Development (Berd) and the US International Development Finance Corporation (DFC), the former Overseas Private Investment Corporation (OPIC), which merged in December 2019 with the Development Credit Authority (DCA). Loans will be repaid through the sale of the electricity produced by the plant. An activity carried out under the 20-year Electricity Purchase Agreement (PPA), which Lekela signed with the Egyptian State-owned Electricity Transmission Company (EETC).