Siemens to Boost Egypt's Power Generation Capacity by 50%
Siemens has signed an €8 billion ($9 billion) deal to enhance Egypt's power generation capacity by 50%, adding 16.4 GW to the grid. This comes amid Egypt's energy crisis and aims to address rising consumption needs due to population growth.
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Siemens will supply three natural gas-fired combined cycle power plants and 12 wind farms to Egypt, increasing its power generation from 31 GW to 47.4 GW. The project includes 14.4 GW from gas plants utilizing Siemens H-Class turbines and 2 GW from wind turbines in the Gulf of Suez and West Nile areas.
This deal, finalized during President Abdel Fattah El-Sisi's visit to Germany, follows a memorandum of understanding from March. The agreement could impact natural gas supply as it requires approximately 600 billion cubic feet, raising concerns over competition for resources between power generation and industrial sectors.
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