technical discussions with major investors in Egypt and Saudi Arabia to build coal plants to produce 3,000 megawatts.
Egypt enjoys strong support from Saudi Arabia, UAE and Kuwait, which made her aid by more than $ 20 billion after the removal of the President Mohamed Morsi in July 2013 after mass protests against his rule.
The news agency quoted the Middle East for Shaker was quoted as saying that “the ministry conducted technical discussions with major investors in Egypt and Saudi Arabia to build coal plants to produce 3,000 megawatts in the framework of the government’s plan to encourage the Arabs and the investors and the private sector to invest in the field of electric power generation.”
Egypt, Saudi Arabia, recently signed two agreements for loans with a total value of about US $ 100 million to finance the draft stations west of Damietta and youth electricity generation, in addition to the funding agreement between the Saudi Fund and the General Petroleum Authority $ 250 million to finance Saudi exports to Egypt.
Shaker said that “the construction of these stations take four years, and that the ministry is now considering locating stations away from residential areas.”
He said, during the seminar held by the Canadian-Egyptian Business Council, entitled “energy crisis .. Challenges and Solutions”, it has been modified future strategy for the electricity sector, to diversify its energy mix and increased reliance on renewable energy to provide more than 25% of the needs of domestic consumption in the coming years.
And accept Shaker, what has been passed from concessions to attract global investment in the electricity sector in the field of conventional energy, where the door was opened to the private sector for the first time.
It is scheduled for the first time choose the first company to build a giant power station in 2250 megawatt lake through next March.
The Minister of Electricity on the importance of Canadian investments, especially in the administration of my energy solar and wind projects, pointing out that there is a genuine interest on the part of the business and corporate interest in the development of Canadian energy fields in Egypt.
He added that the ministry aimed at generating renewable energy capabilities of up to 20% by 2020, of the total energy produced, stressing that next summer will witness many interruptions, where there is an increase in generating capacity to meet the growing consumption.
On the other hand, Shaker explained that the government has the power tariff system to encourage the production of solar energy in homes, noting that the projects will be applied to the tariff up to a maximum of 50 megawatts of solar energy and wind.