(Ecofin Agency) – Egypt wants to increase the supply of renewable energy to reduce electricity shortages and provide green energy to Europe, but it faces difficulties in financing the update of its network and unlock investments.
Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, presented key objectives at the BRICS Energy Ministers’ Conference. These include achieving more than 42% renewable energy in the national energy mix and capturing 5 to 8% of the global green hydrogen trade by 2040.
These goals align with the country’s strategy which is focused on effectively managing and maximizing the benefits of its natural resources, while reducing carbon emissions and promoting green energy. “ Our shared goals are essential to addressing the challenges and opportunities of the global energy landscape » said the minister, highlighting his country’s continued efforts to balance economic growth and sustainable energy development.
In recent years, the Egyptian energy sector has indeed shown remarkable dynamism. The government is committed to making the country a real hub in this area, by encouraging private investors to form strategic partnerships.
This has resulted in the signing of multi-billion dollar agreements to develop solar, wind, nuclear, green hydrogen and derivative projects for export.
Abdullah Diop
