Latest news with #liberalisation
Zawya
21 hours ago
- Business
- Zawya
EBRD backs Egypt's first private-to-private electricity contracts
Egypt has taken a significant step towards energy market liberalisation with the approval of its first private-to-private (P2P) electricity contracts. Under a new pilot scheme, developed with technical support from the European Bank for Reconstruction and Development (EBRD), four renewable energy projects with a combined capacity of 400 MW have been granted permission to sell electricity directly to industrial consumers. The pilot follows the introduction of new P2P regulations, jointly developed by the EBRD and the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA), and approved last year. These rules allow private electricity generators to supply power directly to consumers using the national grid, marking a departure from Egypt's longstanding single-buyer model. The four approved projects under the scheme are: KarmSolar, which will build a 100 MW solar plant to supply electricity to Suez Steel; AMEA Power, which is constructing a 100 MW solar facility to serve BEFAR Group and the Suez Canal Container Terminal; TAQA PV, which will install a 100 MW hybrid system combining solar and wind to power operations at Ezz Steel; and Enara, which is developing a hybrid plant to deliver 100 MW to El Alamein Silicone Products Company and Helwan Fertilisers. The introduction of P2P rules is a major milestone in implementing the 2015 Electricity Law, which set Egypt on a path toward a competitive and liberalised electricity market. By enabling private generators to contract directly with consumers, the new framework fosters competition, broadens consumer choice, and creates new investment opportunities in renewable energy. The move is also seen as a practical solution for expanding electricity generation without relying on state-funded contracts. All electricity under these agreements will be generated and financed by the private sector, reducing fiscal pressure while accelerating the country's green energy transition. 'This milestone shows how the right regulatory framework can unlock private investment and drive the energy transition,' said Mark Davis, EBRD Managing Director for the Southern and Eastern Mediterranean region. 'By enabling companies to procure green electricity directly from producers, Egypt is opening new opportunities for industry and enhancing its competitiveness. We are proud to have supported EgyptERA in designing this pioneering scheme and will continue working closely as projects move towards implementation.' Mohamed Mousa Omran, Chairperson of EgyptERA, also welcomed the development: 'This pilot marks an important step towards a more competitive electricity market in Egypt. By enabling direct agreements between producers and consumers, we are creating space for the private sector to play a greater role in meeting the growing demand for clean energy. This is essential for accelerating the deployment of renewables at scale and achieving our long-term energy goals.' The EBRD's support for EgyptERA was made possible through funding from the Swiss State Secretariat for Economic Affairs (SECO), a longstanding partner in the Bank's policy engagement efforts across the region. The initiative is part of the EBRD's Renewable Energy Programme, which currently supports 16 countries in developing market-based frameworks to attract private investment in clean energy. To date, the programme has supported the award of over 8,500 MW of renewable energy capacity across eight countries, reinforcing the EBRD's role as a key enabler of the global energy transition.
Times
13-05-2025
- Business
- Times
After India and America, time for a better EU deal
There was a time when, doing this job, you could not get away from trade deals. Postwar trade liberalisation, which Donald Trump has been doing his best to reverse, meant a series of often protracted negotiations under the auspices of Gatt (the General Agreement on Tariffs and Trade) and its successor, the World Trade Organisation (WTO). From 1947 to 1994 there were eight Gatt rounds, named after where they were launched, including Geneva, Tokyo, Uruguay, Annecy in France, and even Torquay. Multilateral trade liberalisation has, however, come to a stop in the 21st century. The WTO's Doha Round, or Doha development agenda, was launched in 2001 and has yet to conclude. It is a bit like that court case in Charles Dickens's Bleak House.
