Al Nowais Investments will be on the forefront of Egypt’s plan to build a new coal-powered energy plant. The coal plant will be the first of its kind in Egypt as the country aims to solve some of its energy woes. It has experienced a number of blackouts because of extreme heat, a surging population and an outdated infrastructure. In addition to that, Egypt has seen a shortage in gas and a rise in foreign debt, making private investment a paramount part of helping the Egyptian government make electricity available to its population at all times.
Although the details of the plan haven’t been finalized, it is known that Al Nowais Investments, an Abu Dhabi –based firm founded by Hussain al Nowais, is in advanced discussions with the Egyptian Government for the construction of the power plant. HSBC, Technimount, White & Case , and Backer McKenzie serve as advisors in the financial, tech and legal aspects of the project.
If all goes according to plan, the two phases of the coal-fired power plant will provide 3,960 MW of energy to offset shortages from the causes mentioned above. The coal power plant as a whole demonstrates Egypt’s desire to encourage foreign investment in the power sector. The planned coal power plant will have a jetty nearby to make importing coal to the plant possible.
We should learn more about the coal power plant in the very near future as Egypt embarks on these important changes to its energy industry to adapt to increased demand and new challenges