Power and Renewable Energy Minister Mohammed Shaker said the GPT was a hub for international relations, corridors and private sector investment.
“Before 2014 we had a lot of electricity, low availability of power plants and lack of energy supply in the plants,” said Shaker at the American Chamber of Commerce’s transaction “on the transformation of” Egypt’s electric power “into a virtual monthly program. “
The broadcast network has limitations and major disadvantages. We have drawn up a strategic plan for the modernization of Egypt. ”
He said the Egyptian power sector, led by President Abdul Fattah al-Sisi, was concerned with national security. He believes that problems in this area need to be avoided in a very short period of time.
Shaker noted that Egypt has launched a high-speed track plan that includes a huge increase in capacity and megawatts that the country’s power sector is looking at. This was done in collaboration with foreign and Egyptian partners, especially the German technology company Siemens.
The 2018 deal with Egypt Siemens represents the production of 14,400 MW from integrated and high-efficiency bicycles at three major power plants. The bicycle represents the highest capacity on the market at that time.
The minister said the agreement had a significant impact on the transition from a country plagued by a power crisis to a country that exports energy through Egyptian power interconnection projects. This significant improvement confirmed Egypt’s self-sufficiency in terms of access to electricity.
Shaker said the investment rate in the Egyptian power sector over the past three years has been about $ 24.5 billion, or $ 8.2 billion a year. This compares to approximately 23.4bn EGP per year EGP 1bn per year over the past 13 years.
Shaker pointed to Egypt’s progress in diversifying energy resources by increasing power generation capacity from renewable energy sources.
He noted Egypt’s excellent position in the field of power generation and its current relationship with neighboring Jordan, Sudan and Libya.
“We are working for liaison with Saudi Arabia and have already signed a memorandum of understanding with Cyprus,” Shaker said. ”
He said the ministry plans to set up 47 control centers in five phases in the next ten years, which will create a nationwide network.
“Egypt’s first nuclear reactor is expected to be connected to the energy grid by the end of 2026 or early 2027, after which we will add a new nuclear reactor each year,” Shaker announced. ”
Sheriff Kamal, president of the American Chamber of Commerce (Amcham Egypt), said: “Energy is the backbone of the economy, agriculture, industry, production or services as basic infrastructure. ”
He said, “This is a journey that started in 2015. On July 2, 2019, Minister Shaker was in Amcham, telling us what was going on in the area at that time. Going forward, he shared his plans with us. So, I think today is a good opportunity to learn more about what has happened over the past year and how projects are progressing. ”