Cairo – Mubasher: Egypt will need to invest $20 billion in power generation as well as $10 billion in transmission and distribution (T&D) to raise its power output capacity to 63 gigawatt (GW) by 2023, according to a report released by the Arab Petroleum Investments Corporation (APICORP).
Demand for electricity registered a compound annual growth rate (CAGR) of 4.6% between 2015 and 2017 and is forecast to increase by 5.1% by 2023, the report added.
A power generation plant at a capacity of 87GW is currently being established, the report revealed.
It is noteworthy that the most populous Arab nation has invested EGP 515 billion into the electricity sector since 2014, spokesperson of the electricity ministry Ayman Hamza previously said.
In addition, the recent increases in electricity tariffs will narrow the electricity budget deficit to EGP 16.5 billion from EGP 33.5 billion, according to the electricity minister Mohamed Shaker.
