In mid Feb 2016 Egypt’s government, regulators and public sector stakeholders will discuss the role of DFIs and the private sector to fund and build 30GW of electricity generation, transmission and distribution projects that are about to go to tender, and projects which will require additional investments and partnerships to be completed.
The Egypt Energy Investment Summit will take place from 16 - 18 February in Cairo, designed to drive forward investments into Egypt’s energy sector. The meeting 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.
Speaking recently about the signing of the Dairut IPP deal, H. E. 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”.
Dr. Mohammed Omran, EGX chairman, stated “We can’t ignore the importance of renewable, clean energy for our nation and for the future generation. I have to say that the path towards sustainable energy sources will be long but we can’t resist this transition, in fact we have to embrace it. " I can see a lot of opportunities waiting for companies working in the field of renewable energy as this sector in particular hold a lot of promising prospects that can help support economic growth" Omran added. On our behalf, EGX will always be the gateway to finance, and will offer financial engineering for such companies, as EGX has always encouraged sustainable efforts.
Egypt’s National Energy Strategy will also be discussed with all stakeholders including; the New and Renewable Energy Authority, EgyptERA, Egyptian Electricity Holding Company participating, as well as the leading private and international investors Elsewedy, EGAS, World Bank, AfDB, IFC, EBRD, KfW, The Egyptian Exchange, Schneider Electric, Siemens, ABB to name a few.
Commenting on the growth of a competitive power market in Egypt, Eng. Hatem Waheed, Managing Director, Egyptian Electricity Utility and Consumer Protection Regulatory Agency says “Egypt is paying a lot of efforts to create a desirable electricity competitive market for investors. It should be clear that the presence of a competitive market will positively affect our economy.” On the regulatory efforts to help investors active in Egypt, Eng. Waheed adds “EgyptEra is willing to work hands on hand with investors in a transparent environment and to focus the efforts on creating a competitive electricity market. The Government of Egypt expects a high level of understanding and contribution from the investors to digest the challenges they will be facing and convert it to real ground opportunities that contribute to the economic growth of the country.”