Egypt targets adding 30 GW of renewable energy to national grid

Esmat shared this target during a meeting on Tuesday with Prime Minister Mostafa Madbouly, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, and Minister of Investment and Foreign Trade Hassan ElKhatib.

He noted that the step is part of the government’s strategy to increase electricity generation from sustainable sources.

Furthermore, Esmat presented the current and targeted capacities for renewable energy sources, as outlined in the Integrated Sustainable Energy Strategy 2035, and the capacities needed for hydrogen production.

He also reviewed the percentage of renewable energy, water, and storage capacities to the total current capacities.

In addition, PM Madbouly emphasized the importance of closely monitoring the progress of renewable energy projects. 

Al-Mashat also provided an update on soft financing from development partners for these projects.

She highlighted the status of 18 ongoing projects that received finance from development partners, noting that the Nexus of Water, Food, and Energy (NEFE) programme would be one of the investment supporters in the electricity grid.

Egypt is pursuing the Integrated Sustainable Energy Strategy 2035 to enhance economic value.

The energy sector is one of the primary drivers of economic and social development, contributing 13 percent to the gross domestic product (GDP).

Daily energy consumption in Egypt has exceeded 37.5 GW, reflecting an increase of over 12 percent compared to 2023, Madbouly said.

According to Fitch Ratings, Egypt ranks third in the Middle East and North Africa in electricity market capacity and production.

The country has also commenced the construction of its first nuclear power plant through the El-Dabaa project.