CAIRO - 24 June 2023: Egypt's electricity sector continues to show promising growth, as the total generated and purchased electricity increased by 1.5 percent in January 2023 compared to December 2022, according to the monthly report from the Central Bank of Egypt. Contact online >>
CAIRO - 24 June 2023: Egypt's electricity sector continues to show promising growth, as the total generated and purchased electricity increased by 1.5 percent in January 2023 compared to December 2022, according to the monthly report from the Central Bank of Egypt.
The distribution of electricity usage, which accounts for 79.8 percent of the total generated and purchased electricity, revealed that 36 percent was consumed for household purposes, 30.1 percent for industrial purposes, 27.3 percent for other uses, 5.2 percent for commercial purposes, and 1.4 percent was sold to international interconnection countries.
The government has also been working on the implementation of the electricity interconnection project between Egypt and Saudi Arabia, aiming to exchange 3,000 megawatts of power. The project is expected to be completed by 2026.
Furthermore, the first phase of the electricity interconnection project between Egypt and Sudan, with a capacity of 80 megawatts, has already been operationalized, and preparations are underway for the second phase, which will increase the transmitted capacity to 240 megawatts, with a potential to reach 300 megawatts.
Since 2018, the Egyptian government has taken significant steps to support the electricity sector, attract foreign investments, and expand the infrastructure for electricity transmission and distribution.
Looking ahead, it is expected that Egypt's total electricity generation will increase by 38 percent to reach 284 terawatt-hours by 2032. Net consumption is also projected to rise from 166.4 terawatt-hours at the end of 2022 to 227.2 terawatt-hours in 2032, indicating a potential surplus for exports.
The report indicates positive growth rates in private investments in Egypt's electricity sector, signaling a promising outlook for the development of renewable energy sources in the medium to long term.
This is expected to enhance competitiveness and attract more foreign investment, especially as Egypt plans to increase the share of renewable energy sources, including hydropower, in its electricity mix to 37 percent of total production by 2035. This further strengthens the positive outlook for long-term growth of renewable energy sources in the country.
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