Egypt is struggling to meet energy demands during these hot summer months, and with widespread power cuts and shortages, the public is in an uproar.
Sweeping blackouts are leaving homes, offices, and small business in the dark. Especially now that Egypt is in the middle of a heat wave and people are blasting their air conditioners on high. In July, temperatures usually hit 40 degrees Celsius (104F) and above! Talk about sultry…
On Monday, Qatar offered five cargo loads of liquefied natural gas (LNG), worth approximately $300 million, “as a gift to the Egyptian people during the summer months.” The gift is but a small token compared to the $7 billion the company has already lent Egypt over the past year.
Times sure are tough. Now they’re just getting hotter.
The country's budget deficit looks more like the Grand Canyon. Even the Egyptian pound has taken a hit, which has scared away almost all of the private equity opportunities. Cairo’s share index recently closed out at its lowest in over 10 months. Add to all this – slumping tourism, public protests, riots – and government funding has all but disappeared, resulting in forced energy reductions.
“We will suffer this summer,” said Mohamed Shoeib, managing director at Citadel Capital, a private equity firm. “This will be the hardest, most difficult and darkest summer Egypt has ever seen.”
If only Egyptians had an independent source of electricity to power their air conditioners, warehouses, stoves, and storefronts...
Well, soon they’ll be able to with the SH-Box by NRGLab – the key to achieving energy independence. The poly-crystalline generator is renewable and carbon-free, but unlike solar, there isn’t any expensive installation. The SH-Box is ready and able to be integrated into any existing energy grid. You could be paying as little as $0.03 per kW, AND be immune to state mandated blackouts.
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