EGYPT’S MINISTRY OF PLANNING AND ECONOMIC DEVELOPMENT ISSUES A REPORT ON THE OBJECTIVES OF THE PLAN FOR THE CURRENT FY 22/2023 IN THE FIELD OF ELECTRICITY & RENEWABLE ENERGY
28 November 2022
Gov’t allocates EGP 29.3 billion as total investments dedicated to the electricity & energy sector in the current FY 22/2023: Says Hala El-SaidEgypt’s Ministry of Planning and Economic Development announced on Monday in a report the targets and investments in the electricity and renewable energy sector in the plan for the current fiscal year 2023/22.H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, said that the importance of the electricity and renewable energy sector is evident in its responsibility for providing energy to all its users, in various production and consumption fields.El-Said added that the development vision of the sector is to develop the energy system to be characterized by efficiency and technological progress and to be able to provide energy at competitive prices and environmental sustainability to improve the quality of life for the Egyptian citizen.El-Said explained that the 2023/22 plan targets total investments in the electricity and energy sector amounting to EGP 29.3 billion.About the most critical projects targeted by the 2023/22 plan, the report of the Ministry of Planning indicated that they are strategic projects to expand the national electricity grid and secure electricity supply for economic and social development projects, with a total value of EGP 6.5 billion.Among the plan's components are providing electrical supply to the East Owainat region (Phase Three), the southeastern coast region, the national project for the development of Sinai, the electrical interconnection with the State of Sudan (Phase Two), the land reclamation project in Toshka, the northwestern coastal region, the separation, and concentration plants in the sand project Al-Suda, the monorail project (Egypt's New Administrative Capital - 6th of October), and the modification of the electricity networks that conflict.The targeted projects, according to the plan, also include projects to replace overhead lines passing through the top of residential blocks with underground cables, for EGP 0.5 billion. In addition, strategic projects to relocate and modify the path of the electrical network, which passes through the National Road Development Project, for EGP 0.5 billion.Moreover, the plan includes the completion of the projects of the Atomic Energy Authority, with investments of EGP 206 million, in addition to continuing the land preparation projects necessary for the electric feed-in tariff project in the regions (East and West of the Nile, Kom Ombo) to provide and make land available to investors under the usufruct system to implement electricity production projects from renewable energy.The plan also includes the completion of the implementation work of a solar cell station for the production of electricity with a capacity of 5 megawatts. In addition, the continuation of the installation work of the wind energy project with a capacity of 250 megawatts in the Gulf of Suez.The projects to be implemented also include developing and equipping the building of the Electricity Utility and Consumer Protection Regulatory Authority, with investments of about EGP 18 million. In addition, they include completing the preparation and equipment of the site and infrastructure of the Dabaa nuclear plant construction project, with investments of EGP 5 billion.