Ministry signs US$9.6 billion deal for coal-fired electricity plan

The Electricity Ministry said on Tuesday it has signed a memorandum of understanding (MOU) with the joint-stock petroleum company Tharwa for the construction of a coal-powered, 6,000-megawatt electricity station with investments worth US$9.6 billion.
The ministry’s statement said the MOU complements agreements signed during the Egypt Economic Development Conference (EEDC), which concluded on Sunday.
It added that the station will help meet the rising demand for energy and implement the ministry’s strategy of diversifying energy resources.
Tharwa was established in 2004 as Egypt’s first joint stock petroleum company. It is 100 percent nationally-owned, with shareholders that include the Finance Ministry and the Egyptian General Petroleum Corporation.
Egypt, with the election of President Abdel Fattah al-Sisi, has shown a tendency to shift to alternative energy resources for the operation of its power plants as a means to offset chronic shortages in fuel supplies needed for the operation of stations.
The government’s declaration that it was adding coal as an alternative power generation resource, however,  has garnered criticism for possible environmental consequences.
Edited translation from Al-Masry Al-Youm

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