The Ministry of Electricity and Renewable Energy decided to amend its electricity production projects plan until 2027 in light of the energy demand stability and production surplus, a governmental source told Al Borsanews.
According to the source, officials from the Ministry of Electricity will hold meetings with officials from the Ministries of Finance, Petroleum and Planning to discuss different scenarios for Egypt’s power stations and choose the best option that suits the growth rates accordingly.
The source pointed out to the over capacity of electricity puts strain some projects. As a result, some projects might be postponed in order to reduce the financial burdens on the Ministry of Electricity and Renewable Energy. The projects to be postponed include Oyoun Mousa, Damanhour and El Mahmoudiyah.
The government is trying to overcome this, by buying or managing power plants in the new Administrative Capital, and spreading electric cars for mainstream usage.
The current electricity surplus is sufficient, reaching 15,000 megawatt (MW) per day Moreover, the electricity grid projects with Saudi Arabia, Cyprus, Greece and Sudan still need more time. In case the project needed to be sped up, it should not affect its capacity of 10,000 to 13,000 MW.
The Ministry of Electricity set up a long-term plan in 2016 to implement electricity projects until 2030 with a capacity of 51.7 gigawatts and investment costs amounting to $135.3 billion.
According to the plan, it was expected by 2029-2030 for 49% of power plants to run on natural gas and mazut, 15% to run on coke, 26% on renewables, and 3% on diesel.