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Arab Finance: Minister of Electricity and Renewable Energy Mahmoud Esmat met with Elsewedy Electric (SWDY) Chairman Ahmed Elsewedy and company representatives to review the progress of electricity generation and transmission projects, while exploring expanded cooperation in distribution, energy efficiency, and loss reduction, as per a statement.
The meeting, attended by Mona Rizk, Chairperson of the Egyptian Electricity Transmission Company (EETC), forms part of ongoing efforts to monitor the development and modernization of the national electricity grid and ensure adherence to timelines for supplying power to agricultural, industrial, and urban projects, including those under development in Sinai.
Discussions covered the implementation status of Elsewedy Electric’s projects and progress on electricity supply within the Future of Egypt work plan, aimed at improving service quality, enhancing electricity supply, and raising operational performance.
Esmat stressed the importance of accelerating project completion and connecting them to the unified grid in line with established schedules, noting that this aligns with Egypt’s broader sustainable development strategy and national projects in agriculture, agro-industry, and new urban communities.
The meeting also addressed challenges linked to regional developments, with both sides reviewing mechanisms to overcome obstacles and maintain execution timelines.
The minister also examined implementation rates across projects and timelines for bringing transformer stations into operation, alongside proposals to improve energy efficiency and reduce losses as part of a broader plan to manage wasted energy, particularly in the industrial sector.
The talks further explored expanding cooperation in electricity distribution to improve service delivery, maximize asset utilization, and enhance financial returns, supported by partnerships with the private sector and its technical and financial capabilities.
Esmat reiterated the government’s commitment to meeting electricity demand tied to agricultural development in Sinai, highlighting the importance of adhering to project timelines.
He also underscored ongoing efforts to ensure grid stability and continuity, increase reliance on renewable energy sources, reduce fuel consumption, and improve overall operational efficiency.
In March, the General Authority for Investment and Free Zones (GAFI) explored plans with Elsewedy for the establishment of the first private investment zone in Egypt.
In 2025, Elsewedy Electric's consolidated net profits attributable to the parent company amounted to EGP 17.330 billion, compared to EGP 17.464 billion in 2024.
