Plans to upgrade Egypt's national power grid
Egypt, Economics, 7/13/2004
Within its strategy towards upgrading the national electricity network, Egypt's Ministry of Electricity and Energy has prepared four successive five-year plans from 2002 up till 2022 to establish a number of power generating stations with total capacity of 33,000 megawatts.
This besides executing works in 367 transformer stations of extra high potentials as well as extending aerial lines and land cables of various lengths reaching about 800,000 kilometers.
Minister of Electricity and Energy Hassan Younis said that the Ministry is currently preparing technical and economic studies on increasing the local contribution in establishing the new power projects to reach 55 per cent instead of the current 40 per cent by the year 2010, a matter which will save L.E.1 million.
Meanwhile, the Ministries of Electricity and Petroleum early this week signed a cooperation protocol to establish a joint fund for financing the renewable energy stations, a matter which will augment the use of natural gas resources, reduce costs and raise volume revenues and the added value.
The fund will provide needed finances for other energy projects mainly for producing environment friendly electricity from solar and wind power.
The electricity sector consumes about 63 per cent of Egypt's total gas consumption as more than 92 per cent of thermo-electric stations are using natural gas as the main source for generating electricity.
Younis pointed out that Egypt's consumption of energy envisages high growth rates as it exceeds 7.6 per cent compared to only 2 per cent in the developed countries and 5 per cent in the developing countries.
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