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Egypt eyes DFIs for energy project development

CAIRO, February 1, 2016

The Egyptian government aims to engage development finance institutions (DFIs) and investors to fund and build 30GW of electricity projects in the country.

This month Egypt's government, regulators and public sector stakeholders will discuss the role of the DFIs and the private sector in these projects at a key seminar in Cairo.

The electricity generation, transmission and distribution projects, which are ready for tendering, will require additional investments and partnerships for successful completion, said industry experts ahead of The Egypt Energy Investment Summit to be held from February 16 to 18.

The event is designed to drive forward investments into Egypt's energy sector.

It will cover central issues including the progress in the renewable energy FIT programme, the 'Build-Own-Operate' projects and the IPP scheme, showcasing the pro-activeness of government to engage credible investors efficiently and commercially.

The event will also see Egypt's National Energy Strategy 2035 being discussed with all stakeholders including; the New and Renewable Energy Authority, EgyptERA, Egyptian Electricity Holding Company as well as the leading private and international investors Elsewedy, Egas, World Bank, AfDB, IFC, EBRD, KfW, The Egyptian Exchange, Schneider Electric, Siemens and ABB.

Commenting on the aims of the energy strategy, Hatem Waheed, the managing director, Egyptian Electricity Utility and Consumer Protection Regulatory Agency, said: "Egypt will create a highly competitive and proper environment for new investment in conventional and renewable energy and energy efficiency."

Speaking recently about the signing of the Dairut IPP deal, Dr Mohamed Shaker El Markabi, Minister of Electricity and Renewable Energy, said: "Egypt is committed to meeting its energy needs and access to electricity to promote economic growth is an absolute priority."

In a major boost to South Africa-Egypt trade ties, the country's Department of Energy and IPP Office will participate at the meeting, sharing experience of their hugely well-received REIPPP Programme and collaborating with Egyptian stakeholders to promote renewable energy development in the country.
 
Additionally the visiting delegation will focus heavily on the future of Egypt's gas strategy and discuss what role Egypt could play in South Africa's Gas IPPP Programme, as well the potential for South African coal in Egypt's massive Coal IPP Programme.

The scale of this partnership would create a South: East Africa Trade Corridor, drawing in countries such as Mozambique, Tanzania and Kenya, boosting agriculture, mining and all sectors, increasing energy access and wealth for billions of people across the region, said the experts.

"This is such an important meeting, we hope that our long standing partners will take advantage of the platform and contribute to this unparalleled opportunity for energy investors," they added.-TradeArabia News Service




Tags: Egypt | development | energy project |

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