Energy subsidies will be reduced by 50 percent by 2020 and are expected to be cancelled by 2025, according to a statement by the Electricity and Renewable Energy Ministry on Wednesday.
The Electricity and Renewable Energy Ministry has prepared a long-term strategy to provide electrical power until 2035, with investments up to US$135.3 billion. The strategy should provide 51,000 megawatts, the ministry added in the statement.
The ministry identified, through a study conducted by the global consultant SOFRECO, Egypt's energy needs for different purposes in the coming years, the statement said.
The strategy aims to increase the size of generated electricity starting in 2019 through power stations that use coal as fuel, as well as through nuclear power stations, according to the statement.
In a related context, the Electric Utility and Consumer Protection Regulatory Agency announced Monday evening that the electricity generated through hydroelectric stations stands at 7.5 percent of the total electricity Egypt generates.
The statement added that 58.8 percent of power stations in Egypt depend on natural gas as a fuel, followed by diesel fuel with 32.5 percent.
Wind farms and solar energy make up to 1.1 percent of the total electricity generated in Egypt, according to the statement.
Edited translation from Al-Masry Al-Youm