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Egypt's energy reforms paves way to private sector, attracts $2bn investments: Malpass - Daily News Egypt

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Egypt’s energy reforms paves way to private sector, attracts $2bn investments: Malpass

Benban’s success can be replicated in transport, water, sanitation sectors, says WBG president

The Benban solar development complex is built on an area of 14.4 square miles, which was dedicated to the state-run New and Renewable Energy Authority (NREA) in accordance with presidential decree No 274 for year 2014. The NREA divided the site into 41 separate plots and made them available to developers and companies to carry out individual projects. The investment is worth EGP 40bn.

The project is expected to be one of the largest solar generation facilities in the world and would make a dramatic turnaround in the field of renewable energy in Egypt.

The Benban project consists of 41 solar power plants with a total capacity of 1.8GW.  The project began in 2015 and was completed by 2018.

The project includes four major power transmission stations with a total capacity of 2,000MW, in addition to 40 solar substations that will produce 50MW from each, with a total voltage of 500kV and 220kV per station. The four main stations are scheduled to be completed by the end of August.

Moreover, Malpass, Waly, and Nasr held meetings with beneficiaries of the Takaful and Karama social safety net programme. The programme which presently reaches over 2 million of the country’s most vulnerable households

Wali pointed out that the Takaful and Karama social safety net programme has been a great success, explaining that since the start of the programme in March 2015 more than EGP 31bn were disbursed.

Malpass arrived in Cairo on Saturday for a two-day working trip focused on the Egyptian economy. During his visit, the WBG president met with Egypt’s President Abdel Fattah Al-Sisi, Minister of Investment and International Cooperation, Sahar Nasr, government officials, and parliamentarians to discuss the progress of the Egyptian reform programme and how the WBG can best contribute to this process.

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