Egypt Turns to Growing Wind Energy Sector for Power
Egypt has been exploring renewable energy options to reduce dependency on the domestic oil and gas resources that are quickly depleting. According to a report from Industrial Info Resources (Sugar Land, TX), the country has been promoting wind energy ventures…
Posted: May 20, 2010
Egypt has been exploring renewable energy options to reduce dependency on the domestic oil and gas resources that are quickly depleting. According to a report from Industrial Info Resources (Sugar Land, TX), the country has been promoting wind energy ventures along the shores of the Red Sea, where integrated technology company Siemens AG (NYSE:SI) (Munich, Germany) recently installed a 250-megawatt (MW) renewable energy plant at the Gulf of Suez.
Meanwhile, Egypt's largest cable maker, El Sewedy Cables (CAI:SWDY) (Cairo, Egypt) is also looking to capitalize on the demand for wind power. The company hopes to supply wind power equipment to potential markets in the Africa and Middle East regions, apart from catering to projects in Egypt.
El Sewedy recently began operating a $54 billion wind tower production plant at Ain Sokhna, also on the Red Sea coast. The plant, established as a part of a joint venture with SIAG Schaaf Industrie AG (Dernbach, Germany), has been designed to produce 300 steel tubular towers a year at full capacity. However, it will manufacture about 100 towers during its initial year of operations.
El Sewedy also has a stake in a $20 million turbine factory at the Tenth of Ramadan City in the Cairo suburbs. The factory is likely to be fully functional in another eight months.
At the national level, wind energy targets for 2020 have been set at 7,200 MW, of which 550 MW of fresh capacity will be added by May this year. Egypt's existing installed wind power of 430 MW comprises output from windfarms that include Hurghada and Zafarana.
Solar energy, another viable clean-energy alternative, is next on the cards of El Sewedy. However, the company will wait another five years before diversifying into solar power, as the associated project costs are still high.
El Sewedy is an integrated manufacturer of specialty cables, accessories, transformers and electrical products, and is involved in the execution of turnkey power generation ventures. The company enjoys a global presence, with manufacturing units in India, Malaysia, Slovenia, Syria, Qatar, and Saudi Arabia, as well as Ghana, Sudan, Algeria, Zambia, Ethiopia and Yemen. Libya is likely to be the company's next destination.
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