What:
With the new peer-to-peer (P2P) system greenlit just last month, nearly 20 private sector companies—including the EGX-listed Elsewedy Electric—are set to make hefty investments. They plan to supply electricity through renewable energy projects to other private companies, with potential investments surpassing USD 1 billion, sources told Al Arabiya Business.
Claps Class – P2P System:
The recently approved peer-to-peer (P2P) system allows private companies to produce and sell renewable energy directly to each other using the national grid. Think of it as AirBnB for electricity—companies generate power (mostly from renewable sources like solar and wind), and sell it directly to other businesses. The only role of the government? They charge a small fee for using the grid.
Who’s Plugging In?
Local energy leaders like Infinity and KarmSolar are lining up alongside Enara and EGX-listed Elsewedy Electric. The concept has also sparked interest from global players including AMEA Power from the UAE, Norway’s Scatec, and France’s state-owned EDF.
The Currents are Flowing:
Officials from interested companies told Al Arabiya Business that the companies had preliminarily agreed more than 10 months ago with fertilizer, ceramic, and cement factories to supply them with the necessary electricity from renewable energy projects. They were waiting for the regulatory rules to complete the contractual procedures.
So What:
This initiative is a critical step toward Egypt’s goal of an open electricity market by 2025, a source told Enterprise. And according to the same source, an open market for electricity sales would speed up the birth of renewable energy projects and attract billions of USDs in investments to the sector.
