Egypt reiterates 42 percent renewable energy target for 2030

Egypt continues to pursue its target of achieving 42 percent of its electricity generation from renewable sources by 2030. However, Prime Minister Mostafa Madbouly cautioned during his address at the COP29 conference that this objective is at risk without increased international support. As of July 2024, solar, wind, and hydropower contribute a mere 11.5 percent to Egypt’s electricity generation, according to a government report.

Reliance on natural gas

In recent years, the country has leaned heavily on natural gas, which it defended as a “transitional fuel” during the COP27 conference in 2022, particularly while it was a net exporter of gas. However, last year, Egypt experienced extended power outages due to challenges in natural gas production caused by financial constraints and decreasing local extraction rates. This situation prompted the government to seek foreign investment in renewable energy projects while also increasing fossil fuel exploration.