Siemens announced that it achieved a new world record for the execution of fast-track power projects in Egypt by connecting 4.8 gigawatts to the national grid, according to a statement on Thursday.
The German company set a goal 18 months ago to bring 4.4 GW to the national grid, a target that has been exceeded by 400 MW, the statement said, pointing out that the surplus of 400 MW could cover the electricity requirements for one million people.
Siemens, in cooperation with Orascom Construction and Elsewedy Electric, succeeded in boosting Egypt's power generation capacity by 45 percent in 18 months, the statement read.
"We made a promise to Egypt and we kept our word. And by doing so, we not only overachieved in performance, we also broke all records in modern turnkey power plant construction. This was only possible by an outstanding collaboration between the government, the Ministry of Electricity, the Egyptian Electricity Holding Company and a dedicated and competent Siemens team," said Joe Kaeser, President and CEO of Siemens AG.
The company targets finalizing three power stations in May 2018 that would comprise the "largest gas-fired, combined cycle power plants ever built and operated in the world."
The CEO for Siemens Egypt, Emad Ghaly, said the three power plants will provide electricity to 45 milion people and will allow Egypt to save up to US$1.3 billion a year.