{"id":621028,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/more-private-sector-involvement-in-renewable-energy\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"more-private-sector-involvement-in-renewable-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/more-private-sector-involvement-in-renewable-energy\/","title":{"rendered":"More private sector involvement in renewable energy?"},"content":{"rendered":"

Good morning, everyone. <\/strong>It\u2019s a busy morning here in Egypt with price hikes leading the conversation \u2014 the Madbouly government yesterday announced hikes to the price of subsidized bread and a government source told us to brace for pricer electricity bills this summer.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> Qalaa\u2019s <\/strong>ordinary general assembly<\/a><\/strong> is meeting <\/strong>today <\/strong>to vote on its debt buyback plan. Shareholders of Citadel Capital Partners \u2014 the vehicle through which the company\u2019s founders and top executives own their equity \u2014 will not be in attendance and will not get a vote, as per Financial Regulatory Authority<\/a>. <\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>Prepare for another spring day in Cairo, with a high of 31\u00b0C and a low of 21\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 19\u00b0C.<\/p>\n

And over the weekend, <\/strong>expect to see a high of 36\u00b0C and a low of 23\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Want to subscribe?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

WATCH THIS SPACE-<\/p>\n

<\/a> More privatization in the renewables sphere?<\/strong> The Madbouly government plans to exit renewable energy projects to allow the private sector to take the helm in realizing the country\u2019s renewables targets, Asharq Business<\/a> reported, citing an unnamed government official. <\/p>\n

What\u2019s next:<\/strong> While the New and Renewable Energy Authority \u2014 which currently owns solar and wind power plants with a total capacity of 1.6k MW \u2014 will not embark on new projects, it will go ahead with projects it had signed MoUs for with international companies, the official said. The estimated capacity of these projects is 50k MW.<\/p>\n

Remember:<\/strong> Sales of the state-owned Gabal El Zeit and Zafarana wind farms are expected to wrap this year, with the IMF<\/a> thinking they will be finalized before the end of June.<\/p>\n

<\/a> SPEAKING OF- A solar tender on the way? <\/strong>The Electricity Ministry will launch a tender for the 600-MW solar project in West Nile with the International Finance Corporation acting as a consultant, Al Borsa<\/a> writes, citing a document seen by the outlet. No timeline was detailed regarding the tender as the ministry and IFC are currently preparing the conditions booklet.<\/p>\n

THE BIG STORY ABROAD- <\/p>\n

It\u2019s a mixed bag on global front pages this morning<\/strong> as a number of stories captivate the attention of the business pages.<\/p>\n

No verdict on Trump\u2019s criminal hush-money trial. <\/strong>Jurors ended their first day of deliberation last night without reaching a verdict. The 12-person jury has to reach an unanimous agreement over a verdict, or else the judge will declare it a mistrial. Jurors deliberated for five hours and sent two notes asking questions of the judge. (Politico<\/a> | AP<\/a> | Bloomberg<\/a>) <\/p>\n

Speaking of The Donald: Will Elon Musk get a cabinet post if there\u2019s a Trump White House v2? <\/strong>The two are now \u201cfriendly\u201d and sources tell the Wall Street Journal<\/a> that Musk could well be in line for an advisory role if there\u2019s a remake of the Agent Orange Show. <\/p>\n

MEANWHILE- BHP has abandoned its bid for mining group Anglo American <\/strong>after Anglo American refused to extend takeover talks. \u201cWe were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost and \u2026 we were not able to access from Anglo American key information required to formulate measures to address the excess risk they perceive,\u201d BHP CEO Mike Henry said in a statement (pdf)<\/a>. <\/p>\n

<\/a> AND IN TECH- Gemini now speaks Arabic. <\/strong>Google\u2019s Gemini and Gemini Advanced are now available to Arabic-speaking users<\/a> \u2014 Gemini 1.0 Pro is available as a standalone Android app or as a tab in the Google app on iOS. The more advanced Gemini flavour, which is \u201ccapable of coding, logical reasoning, following nuanced instructions and collaborating on creative projects,\u201d can be accessed for EGP 699.99 a month<\/a>. Download it yourself: <\/strong>Google\u2019s Play Store<\/a> or Apple\u2019s App Store<\/a>.<\/p>\n

Two notable firsts for women: <\/strong>Claudia Sheinbaum, who has a PhD in energy engineering, looks set to become Mexico\u2019s first woman president<\/a> when voters go to the polls this coming Sunday. And Yale has named Maurie McInnis, the respected historian, its next president. She\u2019ll be the first woman to hold the job<\/a> on a permanent basis. <\/p>\n

ALSO WORTH READING THIS MORNING- <\/strong>From the Baby Boom to the Baby Bust<\/a><\/strong>, an op-ed by the FT\u2019s Martin Wolf, details the challenges that come with falling fertility rates. <\/p>\n

AND on the downside of working from home \u2014 <\/strong>US workers are increasingly lonely<\/a> as they make fewer work friends with their workday dominated by virtual meetings and faceless chats. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, everyone. It\u2019s a busy morning here in Egypt with price hikes leading the conversation \u2014 the Madbouly government yesterday announced hikes to the price of subsidized bread and a government source told us to brace for pricer electricity bills this summer. 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With the work week rushing to a close, we expect a final rush of news from the Egypt Petroleum Show(Egyps), which is entering its third and final day today, capping an eventful two days that saw a slew of energy news, from fresh\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544831,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/this-morning-egp-settles-in-at-egp-18-57-to-the-greenback-more-price-caps-are-coming\/","url_meta":{"origin":621028,"position":2},"title":"THIS MORNING: EGP settles in at EGP 18.57 to the greenback + more price caps are coming","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"Good morning, friends, and welcome to another exceptionally heavy news day, so as we did earlier this week, let\u2019s jump straight in:The EGP eased another 1.6% against the greenback yesterday, settling at EGP 18.57. The currency has now slid 17.7% since the devaluation on Monday. Two senior bankers we spoke\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578096,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/15\/this-morning-the-imf-is-discussing-our-loan-request-tomorrow-fed-slows-rate-hikes-but-stays-hawkish\/","url_meta":{"origin":621028,"position":3},"title":"THIS MORNING: The IMF is discussing our loan request tomorrow + Fed slows rate hikes but stays hawkish","author":"enterpriseam admin","date":"15 December 2022","format":false,"excerpt":"Good morning, friends, and happy THURSDAY. We hope the week has been good for you \u2014 and those of you with spawn starting their winter break are able to pencil in some time to hang out with the kids as we head into the final weeks of the year. Extra\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/320.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587494,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/this-evening-parliament-general-assembly-gives-preliminary-thumbs-up-to-tax-duty-development-fee-hikes\/","url_meta":{"origin":621028,"position":4},"title":"THIS EVENING: Parliament general assembly gives preliminary thumbs up to tax, duty, development fee hikes","author":"enterpriseam admin","date":"28 May 2023","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s the last Sunday of May as we hurtle towards June and the full swing of the summer season \u2014 and it\u2019s looking like it\u2019s going to be a mad rush. THE BIG STORY TODAY Tax hikes get preliminary sign-off from House general assembly: The House\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/22.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587577,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/this-evening-parliament-signs-off-on-income-tax-development-fee-hikes\/","url_meta":{"origin":621028,"position":5},"title":"THIS EVENING: Parliament signs off on income tax + development fee hikes","author":"enterpriseam admin","date":"29 May 2023","format":false,"excerpt":"Good afternoon, friends. It\u2019s shaping up to be a legislation-heavy news week here at home, as the House of Representatives charges through a raft of bills and tax hikes ahead of its summer recess. THE BIG STORY TODAY Tax legislation moves through parliament: The House of Representatives gave its final\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/court-1600px.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\/621028","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=621028"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621028\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621029"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621028"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621028"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}