Egypt and Abu Dhabi-based Al-Nowais Investments Group on Sunday signed a $4.5 billion (ZAR62 billion) agreement with the Egyptian Electricity Holding Company to construct Egypt’s first coal-fired power plant in the Suez region.
According to Electricity and Renewable Energy Minister Mohamed Shaker: “The environmentally friendly power plant, producing 2,460MW of energy, will not only sustain economic development but will also position Egypt as one of the global leading countries in the field of renewable energy,” Egyptian independent news agency Youm7 reported.
The deal was signed between Hussein a-l Nowais, chairman of the UAE Company, and Gabr el-Desouky, chairman of the Egyptian Electricity Holding Company.
Improving the Egyptian energy sector
In addition, Chairman of the Egyptian Electricity Transmission Company Ahmed al-Hanafy entered into a $1.5 billion (ZAR25 billion) energy deal to construct another coal-fired plant in the Delta governorate of Kafr el-Sheikh, Egyptian media stated.
Attending an energy conference recently, the Egyptian Ministry of Electricity and Renewable Energy signed a total of $21.2 billion (ZAR260 billion) in deals, partnering with international firms to improve Egypt’s energy sector.
- A $10 billion (ZAR124 billion) agreement with Germany’s Siemens
- Four MoUs to develop power plants with production capacity of 6.6GW signed with German companies
Youm7 reported that one of the four MoUs included the development of a combined power plant with a generation output of 11MW in the North Beni Sueif.
Another MoU included the development of five additional combined power plants with a total output of 6,600MW in Noubarya of Beheira governorate (Delta), in Sedi Kirir in Alexandria, in Southern Cairo, in Qena (Upper Egypt), and in Kafr el-Dawwar, according to Youm7.