{"id":597101,"date":"2019-07-16T04:21:22","date_gmt":"2019-07-16T04:21:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypt-needs-to-invest-additional-usd-30-bn-into-electrical-grid-by-2023-apicorp\/"},"modified":"2019-07-16T04:21:22","modified_gmt":"2019-07-16T04:21:22","slug":"egypt-needs-to-invest-additional-usd-30-bn-into-electrical-grid-by-2023-apicorp","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypt-needs-to-invest-additional-usd-30-bn-into-electrical-grid-by-2023-apicorp\/","title":{"rendered":"Egypt needs to invest additional USD 30 bn into electrical grid by 2023 -Apicorp"},"content":{"rendered":"

<\/a> Egypt needs to invest USD 30 bn into electrical grid by 2023 -Apicorp: <\/b>Egypt needs to invest an additional USD 20 bn in power generation and USD 10 bn in transmission and distribution (T&D)to increase capacity to 63 GW by 2023, the Arab Petroleum Investments Corporation (Apicorp) says in its newly-released MENA Power Investment Outlook report (pdf)<\/a>. Increasing urbanization, population growth and higher levels of cooling requirements will continue to place greater stress on Egypt\u2019s electricity needs, despite significant investments over previous years leading to a current electricity surplus.<\/p>\n

Egypt isn\u2019t short on investments in its electrical grid:<\/b> Investment in current projects stands at USD 24 bn, with that figure rising to USD 59 bn when accounting for projects that are still in the pipeline. In fact, the current electricity surplus has pushed the Egyptian Electricity Holding Company (EEHC) to postpone an agreement with the UAE\u2019s Al Nowais to build a USD 4 bn \u201cclean coal\u201d power station in Oyoun Mousa, Electricity Ministry sources told the local press<\/a>. Egypt\u2019s power reserves currently stand at 20 GW per day and are expected to increase to 22 GW by the end of 2019 due to new renewable energy projects in the Gulf of Suez and Benban, the sources said.<\/p>\n

The growth of medium-term demand is expected to accelerate<\/b>, but will slow over the long term as the lifting of electricity subsidies hits household wallets and company balance sheets. Apicorp estimates that demand will grow at a compound annual rate of 5.1% by 2023, having risen by 4.6% between 2015 and 2017.<\/p>\n

The MENA region needs USD 209 bn of investment in power to generate 88 GW by 2023<\/b>, the report says.Apicorp has cut these projections by a fifth since last year\u2019s outlook due to lower medium-term growth forecasts, falling population growth rates and higher electricity prices.<\/p>\n

Investments in the MENA energy sector could reach USD 1 tn,<\/b> with the power sector comprising a 36% market share, driven by growing demand for electricity and renewable energy. Egypt, Saudi Arabia and the UAE alone account for half the expected investments in the power sector. In the case of both Egypt and Saudi Arabia, the majority of planned or existing power generation projects are focused on gas-fired capacity. Renewable energy is expected to account for 34% of total power investments, although technical and regulatory issues are expected to keep many countries below their renewable generation targets.<\/p>\n

Sector reforms are essential for increased private sector involvement:<\/b> With the total share of regional government investments in the sector at 78%, the report calls for greater private sector involvement in both power generation and distribution, using traditional business models including the Single-Buyer Model.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt needs to invest USD 30 bn into electrical grid by 2023 -Apicorp: Egypt needs to invest an additional USD 20 bn in power generation and USD 10 bn in transmission and distribution (T&D)to increase capacity to 63 GW by 2023, the Arab Petroleum Investments Corporation (Apicorp) says in its newly-released MENA Power Investment Outlook […]<\/p>\n","protected":false},"author":1,"featured_media":597102,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[903,403,1401,244,93,72,125,151,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-al-nowais","tag-apicorp","tag-egyptian-electricity-holding-company","tag-electricity","tag-energy","tag-enterpriseam","tag-investment-watch","tag-renewables","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3442dd80-7def-4d7c-9a49-8d897a93b1c1","is_powered_by":true,"section_story_id":"564326f1-c1ed-4186-924a-cfd3aed803d2","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/830.jpg","photo_position":"above","related_issue":[597081],"teaser":"","voice_url":""},"yoast_head":"\nEgypt needs to invest additional USD 30 bn into electrical grid by 2023 -Apicorp - 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Apicorp","author":"enterpriseam admin","date":"18 April 2018","format":false,"excerpt":"Speaking of which, Egypt is on track to keep pace with rising electricity demand through 2022 thanks to 25 GW of capacity already being executed and ready for commissioning, according to a report by Arab Petroleum Investments Corporation (Apicorp). The report cites the Siemens power plants as being a major\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599833,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/13\/apicorp-to-invest-usd-1-bn-in-five-countries-including-egypt-in-2019\/","url_meta":{"origin":597101,"position":1},"title":"Apicorp to invest USD 1 bn in five countries, including Egypt, in 2019","author":"enterpriseam admin","date":"13 January 2019","format":false,"excerpt":"INVESTMENT WATCH- Apicorp to invest USD 1 bn in five countries, including Egypt, in 2019: Egypt is one of five countries in which the Arab Petroleum Investments Corporation (Apicorp) plans to invest a total of USD 1 bn this year, CEO Ahmed Ali Attiga said, according to Bloomberg. Apicorp is\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570919,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/apicorp-to-increase-callable-capital-eightfold-to-usd-8-5-bn\/","url_meta":{"origin":597101,"position":2},"title":"Apicorp to increase callable capital eightfold to USD 8.5 bn","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"Apicorp to increase callable capital eightfold: Arab Petroleum Investments Corporation (Apicorp) shareholders have given the go-ahead to increase the development bank\u2019s callable capital to USD 8.5 bn from USD 1 bn to support investments in the energy sector, it announced in a statement (pdf). The lender will also bump up\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603321,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/18\/apicorp-2018-net-profits-surge-to-record-highs\/","url_meta":{"origin":597101,"position":3},"title":"Apicorp 2018 net profits surge to record highs","author":"enterpriseam admin","date":"18 April 2019","format":false,"excerpt":"EARNINGS WATCH- Apicorp\u2019s 2018 net profits surge to record highs: Multilateral development bank Arab Petroleum Investments Corporation\u2019s (Apicorp) 2018 net profit rose 76% y-o-y to a record USD 182.3 mn, it said in a statement. Company revenues increased last year by 78% y-o-y to USD 252.7 mn. The sale of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571129,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/30\/apicorp-to-support-member-countries-with-usd-500-mn-covid-19-recovery-funding\/","url_meta":{"origin":597101,"position":4},"title":"Apicorp to support member countries with USD 500 mn \u2018covid-19 recovery\u2019 funding","author":"enterpriseam admin","date":"30 April 2020","format":false,"excerpt":"Egyptian companies will be among the beneficiaries of USD 500 mn in covid-19 recovery funding from Apicorp: The Arab Petroleum Investments Corporation (Apicorp) has announced a USD 500 mn funding package to help its clients in the energy sector cover shortfalls caused by the covid-19 pandemic and the collapse in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542756,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/16\/apicorp-and-isdb-launch-usd-1-bn-infra-initiative\/","url_meta":{"origin":597101,"position":5},"title":"APICORP and IsDB launch USD 1 bn Infra Initiative","author":"enterpriseam admin","date":"16 January 2022","format":false,"excerpt":"Apicorp and IsDB launch USD 1 bn Infra Initiative: Arab Petroleum InvestmentsCorporation (Apicorp) and the Islamic Development Bank (IsDB) have launched a three-year, USD 1 bn initiative for private-sector focused infrastructure financing in countries including Egypt, according to a statement.Who\u2019s in line for funding? The Infra Initiative will finance renewable\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=597101"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597101\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597102"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597101"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597101"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}