Germany’s conglomerate company, Siemens, announces that the first phase of its mega project in Egypt has been finalized, with 4.8 GW already being connected to the grid, Invest-Gate reports.

The German giant also says that the promised goal of bringing 4.4 GW of new capacity to the grid has even been exceeded.

Emad Ghaly, CEO of Siemens Egypt, says, “The plants will supply enough electricity for 45 million people and enable Egypt to achieve USD 1.3 bn in fuel savings on an annual basis. With these projects, we provide an essential contribution to stabilize both the energy supply and the economy in our country, which has an outstanding importance for the whole Middle East region and Africa.”

The surplus capacity of 400 MW is sufficient to supply more than one million people in Egypt with electricity, according to media reports.

Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker says, “Siemens’ power projects will definitely make an important contribution to our power strategy.”

After completion in May 2018, the three power stations will be the largest gas-fired, combined cycle power plants ever built and operated in the world.