Page 5 - AfrElec Week 34

AfrElec COMMENTARY AfrElec

it would train 2,000 Egyptian operational and rather than any changes to decisions already
maintenance staff for the plant. made by foreign governments.
Egyptian media said that up to 85% of the “Our partner countries are experiencing the
project’s cost will be financed through a Russian pandemic in different ways and a number of
loan that Egypt will start repaying in October [them] have essentially suspended the adoption
2029 through semi-annual instalments over 22 of some government decisions. This, of course,
years at an interest rate of 3%. can affect contracting, but we very much hope
Egypt’s government will cover the rest of that this will only mean a shift to the terms and
the cost, whether from the public treasury or not a revision of fundamental decisions,” he said.
through local banks.
The first unit and initial operation is antici- Decarbonisation
pated to start in 2026, while the second, third and For Egypt, nuclear power is part of the govern-
fourth phases will be finalised by 2028. ment’s efforts to decarbonise the generation sec-
tor while at the same time meeting rising power
demand.
Russian strategy The strategy also includes wind solar, such as
Although the Egyptian project is being delayed the massive Benban solar complex, new gas-fired
by up to a year, Rosatom is still bullish about generation and the gradual retirement of its fleet
its growing portfolio of nuclear construction of coal-fired power plants.
projects. At present, renewables accounts for 20% of
On the other hand, Rosatom chief Alexei the country’s power output, Minister of Elec-
Likhachov said in Moscow this week that the tricity and Renewable Energy Mohamed Shaker
coronavirus (COVID-19) pandemic might confirmed this week.
affect some of its contracts. He said that the government aimed to elim-
In March, Rosatom said that it planned to inate power cuts and build up a safe reserve of
maintain its 10-year portfolio of foreign orders electricity, as well as raise green energy’s share of
at its current level of at least $140bn. However, in supply to 42% by 2035.
April, the company said it was prepared for dif- Over the past five years, the energy sector in
ficulties that might arise with project timelines. Egypt has added 28,000 MW of new capacity,
Yet Likhachov said that Rosatom was not mainly gas, wind and solar.
changing any current construction plans, and A second part of the strategy is improving the
that the impact of COVID-19 would be limited efficiency of energy networks by enhancing and
to some delays in the signing of new contracts, developing the transmission grid. ™

Week 34 27•August•2020 www. NEWSBASE .com P5