Egypt reaffirms 42% renewable energy goal for 2030
Egypt is still aiming for renewable energy to reach 42% of its electricity generation mix by 2030, but that goal will be at risk without more international support, Prime Minister Mostafa Madbouly told the COP29 conference on Tuesday.
Currently, solar, wind, and hydropower make up only 11.5% of Egypt's electricity generation, according to a July cabinet report.
The country has in recent years relied heavily on natural gas, which it defended during the United Nation's COP27 conference in 2022 as a "transitional fuel" at a time when it was a net exporter of gas.
But last year, Egypt faced prolonged power outages as natural gas production was hit by financial constraints and declining local extraction.
That prompted a government search for foreign investment in renewable projects alongside increased fossil fuel exploration.
Last year, the government set a goal for renewable energy to reach 42% of its electricity generation mix by 2030, and in June this year, then-Electricity Minister Mohamed Shaker outlined a plan to push that share to 58% by 2040.