Back to the complete issue
Tuesday, 12 June 2018

Heliopolis Housing in talks with Electricity Ministry to sell power in New Heliopolis

Property developers are looking to deregulation of the energy market to provide them with new recurring revenue streams: Heliopolis Housing & Development is in talks with the Electricity Ministry for permission to sell power in its New Heliopolis project, Vice Chairman Wael Youssef tells Al Mal. If approved, the company will build a EGP 525 mn transformer station for the new development and will have the ministry install electricity meters, he added.

Background: As we noted back in April, the Egyptian Electricity Utility and Consumer Protection Agency (Egyptera) has reportedly been holding high-level meetings to discuss the pricing scheme for power produced and sold under an independent power producer (IPP) framework. Under the framework, private companies are allowed to directly sell power to consumers while paying the state a fee to use the national grid for transmission.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.