Operations begin for the 14.4GW Egypt Megaproject
The Egyptian Ministry of Electricity and Renewable Energy, in partnership with Siemens, announced the launch of the Egypt Megaproject on 24 July.
The project was developed by a consortium including Orascom Construction and Elsewedy Electric.
The completion of the projects marked the launch of operations at the Beni Suef, Burullus, and New Capita power plants.
The stations, which have a combined capacity of 14.4GW, were completed in a record time of 27.5 months.
The project can generate enough energy to power 40mn people through the grid and save Egypt more than US$1bn per annum in fuel costs.
“The completion of the power plants is a significant milestone in the government's strategy to modernize energy infrastructure in Egypt to drive industrial growth and economic progress,” commented H.E. Dr. Mohamed Shaker, Egypt’s Minister of Electricity and Renewable Energy.
“This is also why the plants were built in select locations across the country to serve the growing demand for electricity among households, businesses and industries.”
“This new power infrastructure will serve as the backbone for economic prosperity in Egypt for years to come.”
Each plant uses eight SGT5-8000 H-class gas turbines, 4 steam turbines, 12 generators, 8 Siemens heat recovery steam generators, 12 transformers, and a 500-kilovolt gas-insulated switchgear.
“The record-breaking completion of our Megaproject in Egypt will not only transform the power landscape in Egypt, but will also serve as a blueprint for building up power infrastructure in the Middle East and all over the world,” remarked Joe Kaeser, President and CEO of Siemens AG.
“This Megaproject is also setting the benchmark for trustful and reliable cooperation with our customer and our partners.”
“The leadership of President al Sisi and his team in this project has been remarkable. We look forward to apply this unique performance model also to other countries in their efforts towards reliable, affordable and sustainable power systems.”
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.