Will Egypt privatize electricity delivery?
Two international companies have approached the Egyptian government about buying shares in three of its electricity stations, sparking discussion over the pros and cons of privatizing energy distribution.
Controversy ensued in Egypt after the Ministry of Electricity and Renewable Energy received two offers on May 28 from a subsidiary of the Blackstone Group, the world's largest asset management company, and a Malaysian company, Edra Energy, to buy shares in power plants in Beni Suef, Burlus and the new administrative capital being built in the desert.
The three gas-powered plants went online in July 2018 at a cost of 6 billion euros ($6.7 billion) and were funded by a partnership led by Deutsche Bank and HSBC. They currently generate a combined capacity of 14,400 megawatts (MW).
