Egypt to earn $19B in net from Dabaa Nuclear Plant by 2029

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Mon, 22 May 2017 - 08:50 GMT

Egypt's Dabaa nuclear power plant site - Hassan Mohamed

Egypt's Dabaa nuclear power plant site - Hassan Mohamed

CAIRO – 22 May 2017: The state treasury is set to earn a net income of $19 billion in value of the power generated from Dabaa Nuclear Plant between 2023 and 2029, according to a study by the Egyptian-Russian Institution for Culture and Sciences.

The net yearly revenue is expected to be $150 billion from 2052 onwards. The average lifespan of the nuclear reactors is 60 years, but if they continued to work for 80 years until 3004, the plant will yield $200 billion yearly.

The figures are based on an 86-piaster price per kilowatt set by the Central Bank of Egypt in June 2016, which was equivalent to $0.10 at the time.

The Dabaa Nuclear Plant will comprise four units, 1,200 megawatt each, and they will begin production respectively in 2023, 2014, 2015 and 2016. The cost of producing one kilowatt from coal is 10 cents, while it costs 12 cents to be produced from natural gas, and 15 cents to be wind-generated, and solar cells produce the unit at a cost of 20 cents, according to the study.

Nuclear power is the second cheapest source after hydroelectric power at 6 cents in 2013, according to the Canadian Nuclear Association. Other sources even argue that nuclear energy is the cheapest source.

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