The ordinary and extraordinary general assemblies of the Egyptian Electricity Holding Company (EEHC) were held to review the targeted budget measures of the fiscal year (FY) 2019/20.
The assembly approved the establishment of an Egyptian joint stock company for training, wholly owned by the EEHC. The company is supposed to include 20 centres affiliated to the EEHC in the country. It will also include various cadres and will use international expertise to raise the employee efficiency.
The company aims to achieve a number of indicators in the budget of FY 2019/20 represented in adding 1.95GW to the national electricity grid with the nominal capacity raised to 60.67GW, up by 2.6% compared to the current FY 2018/19.
Furthermore, the company also aims to increase the generated power to 195.8bn kWh, with a 4.2% growth compared to the current FY and reduce fuel consumption to 185.5 g/kWh, an improvement of 2.9% compared to the expected rate, as a result of several reasons, most importantly, maximising production from the combined cycle units and the presence of Siemens’s project, which represent 17% of the total generated energy.
Moreover, the company is continuing the procedures to review the efficiency of existing power plants, as well as the maintenance and required repairs to ensure their readiness, and complete the implementation of the plan to strengthen the national network in order to be able to unload the expected loads.
The EEHC said that it plans to invest about EGP 53bn in the upcoming FY, including EGP 12bn for coal projects in Hamraouin.