The planned El Dabaa Nuclear Power Plant could save Egypt approximately $7 per one million thermal units, the Minister of Electricity and Renewable Energy, Mohamed Shaker, stated, according to Amwal Al Ghad.
The price of electricity produced by nuclear power is $0.045 per million thermal units, the minister said, noting that it is considerably lower than the price of electricity produced by natural gas, which is over $7 per million thermal units.
When considering that the El Dabaa project includes the cost of establishing research centers and that the highest safety measures will be applied, the overall cost of the nuclear plant is low, according to Shaker.
The plant is projected to cost $21.3 billion, the minister said.
Russia has agreed to provide 85% of the financing for the project and Egypt is responsible for raising the remaining 15%, according to the Reuters.
The plant is supposed to begin commercial operations in 2026, Shaker previously announced.