Egypt intends to put up energy projects through auctions to obtain lowest prices

CAIRO – 3 March 2021: Egyptian energy sector will put up all projects through an auction system, which achieves the highest interest by obtaining the lowest prices, according to Deputy Minister of Electricity and Renewable Energy, Osama Asran.

Asran said, in a statement, Wednesday, that Egypt had succeeded in obtaining offers at a competitive price amounting to $ 2 cents per kilowatt/ hour for energy produced from solar power plants and $ 3 cents per kilowatt/hour for energy produced from wind farms.

He added that land estimated at 7,650 km2 has been allocated to implement renewable energy projects that accommodate capacities of 35 gigawatts of wind energy and 55 gigawatts of solar energy.

He pointed out that an energy strategy has been developed in Egypt until 2035 that includes maximizing the participation of renewable energy in the energy mix to reach about 42 percent in 2035.

Asran also mentioned that 32 agreements have already been signed to purchase energy from solar energy, with a total capacity of 1,465 megawatts, which are currently being implemented as the largest solar power plant in the world in one place in Benban, south of Aswan.

The Deputy Minister emphasized that the integrated and sustainable energy strategy in Egypt is consistent with the sustainable development strategy (Egypt Vision 2030) and the 17 UN goals for sustainable development.

He pointed out that Egypt has a clear richness in sustainable renewable energy sources such as wind and sun, as Egypt has potentials of wind speeds that are among the highest in the world, as well as the high average direct solar radiation because we are in the solar belt.

“Egypt's hope for the future is relying on the use of renewable energy from all its sources, in addition to energy efficiency in terms of the following opportunities, investment in the future of various features and features, achieving sustainable development and reaching it for the most needy groups, diversifying energy sources and conserving resources, reducing From consuming fossil fuels, creating an industrial base for Egypt and the Arab and African surroundings, "creating job opportunities for the youth to eliminate unemployment,” he continued.

This came during the opening session of the first meeting of the steering committee within the agreement on the "Egyptian-Danish Energy Partnership" program between Egypt and Denmark in order to support and enhance cooperation between the two countries in the field of renewable energy.