CAIRO: The Ministry of Electricity will soon present legislation to regulate the private sector’s investments in wind power, Minister Mohamed Shaker said.
“We now generate 540 megawatt of energy from wind power” Shaker said in an interview with the CBC satellite channel on Wednesday, hoping that it will reach 5,000 to 6,000 megawatt after encouraging the private sector to invest in this sector.
Egypt needs within the coming 40 years 150,000 megawatt against 31,000 megawatt at the present time, he said. “That’s why we need huge investments to provide electricity and the state alone cannot afford them. We need to encourage the private sector to pump investments in the wind and solar energy.”
About the price of electricity, he said he is going to conduct a real study on power subsidy that will consider low and limited income people but at the same time guarantees that rich people get power at least at the cost price.
He made clear that deficit in the power sector reached 18 billion EGP and its debts hit 52 billion EGP.
“No way we can avoid power cuts in the next summer but the ministry is working hard to shorten the duration of the outage through providing necessary diesel for power stations and raising awareness of the importance of a rational power consumption,” the minister said.