CAIRO: Egyptian Ministry of Electricity and Renewable Energy signed Sunday $ 21.2 billion in deals with a number of international companies to develop the national electricity network and build new power plants operating with various sources.
The deals were signed on the sidelines of the three-day Egypt Economic Development Conference (EEDC) “Egypt the Future,” in Sharm el-Sheikh of South Sinai.
The ministry signed with Saudi ACWA Power Corporation and UAE Masdar Corporate a $ 9.4 billion memorandum of understating in investments to build power plants working with solar and coal sources, according to a statement from the ministry.
One of the two memoranda was signed with both ACWA Power and Masdar Corporate; it aims to build combined a power plant with 2,200 megawatt in western Damietta and number of solar power stations in certain places nationwide with total of 1,500 megawatt, besides a wind power plant with 500 megawatt. The memorandum is worth $ 2.4billion.
The second $ 7 billion agreement was signed with ACWA Power to build a coal-operated power plant with 2,000 megawatt and could be expanded to produce 4,000 megawatt.
Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker signed also deals worth $10 billion with the German Minister for Economic Affairs and Energy Sigmar Gabriel and the Germany’s Siemens representatives Lisa Davis, according to another statement from the Ministry.
Both sides signed four memoranda of understanding to establish certain power plants to overcome the Egyptian electrify crisis and to create more job opportunities, the statement added.
According to one of the four memoranda, a combined power plant will be established in Beni Sueif (Upper Egypt) with capacity of 11.004 megawatts. The second memorandum includes establishing five other combined power plants in Noubarya of Beheira governorate (Delta), in Sedi Kirir in Alexandria, in Southern Cairo, in Qena (Upper Egypt), and in Kafr el-Dawwar with total of 6,600 megawatts.
According to the third memorandum, a large factory will be established to produce manufacturing tools for the wind plants, the statement added.
Under the fourth memorandum, another factory will be established to power transformer stations with different voltages.
The ministry also signed $1.8 billion agreement with the State Grid Corporation of China to develop an electricity transfer network in Egypt, the ministry stated.
The agreements were signed on the sidelines of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh.