Egypt Announces $43bn Powergen Plans As Part Of Epic Development Program

Amid the hullabaloo of a huge investment conference, Cairo has lined up power projects which could almost double its existing generating capacity of 31.45GW. This target is ambitious, but so are Egypt’s broader economic plans.

Egypt’s Ministry of Electricity signed preliminary agreements for 30.39GW of power generating capacity worth a combined $43.4bn at the 13-15 March Egypt Economic Development Conference in Sharm Al-Shaikh. The scale of the envisaged developments is huge, and is in keeping with the government’s total investment plan of almost $175bn, which includes spending $45bn on a new capital city (see p20).

Powergen deals inked during the conference include 15.64GW of coal-fired capacity, 6.60GW of gas-fired capacity, 6.05GW of solar and wind capacity and 2.1GW of hydropower. The fossil fuel burning plants will require the supply of 75mn tons/year of coal – all of which will need to be imported – and 780mn cfd of gas. Egypt produced 4.7bn cfd of gas last year, well short of potential demand (MEES, 27 February). (CONTINUED - 1220 WORDS)

DATA INSIDE THIS ARTICLE

table Egypt Development Conference: Preliminary Power Deals
table Pre-Conference Egypt Power Projects/Proposals