Ministers discuss Egypt’s energy future at EGYPES 2025
Updated 2/19/2025 11:13:00 AM
Arab Finance: Egyptian Ministers of Petroleum and Mineral Resources, Electricity, Renewable Energy, Environment, and the Public Business Sector participated in a panel discussion on Egypt’s energy future at the Egypt Energy Show (EGYPES 2025), as per a statement.
During the session, entitled ‘Powering Egypt’s energy future collaboratively and responsibly’, Minister of Petroleum Karim Badawi highlighted the government's efforts to enhance investment in the energy sector.
He added that the government work to create an attractive investment environment that facilitates the flow of new investments into the sector.
Badawi also outlined key priorities in the sector's work strategy, including lowering production costs, increasing efficiency and safety of human elements, in addition to reducing carbon emissions.
On his part, Minister of Electricity and Renewable Energy Mahmoud Esmat stressed the importance of improving environmental performance through energy efficiency, decarbonization, and reliance on renewable energy. This aligns with the state's energy transformation strategy and Egypt Vision 2030.
Esmat unveiled an integrated plan to raise the efficiency of the electricity grid and transform it into a smart grid that accommodates new capacities.
The scheme will contribute to achieving the state’s goal to reach 42% of renewable energy by 2030 and 65% in 2040. More than 65 gigawatts (GW) of wind and solar energy will be generated from pumping and storage projects, hydroelectric power, and nuclear energy.
He also stressed full support for the private sector’s participation in renewable energy projects, highlighting legislative reforms and the allocation of 42,000 square kilometers of land for renewable energy projects.
The minister shed light on Egypt’s green hydrogen strategy that targets 5-8% of the global market by 2040, along with the establishment of the national council for green hydrogen and the issuance of a new law for investment incentives.
For her part, Minister of Environment Yasmine Fouad affirmed the state’s keenness to achieve its climate commitments and national contribution plan in a way that does not affect sustainable development.
She noted that the plan was updated twice, the last of which was to increase the target to achieve the goal of 42% of renewable energy in the energy mix by 2030.
Finally, Mohamed Shimi, Minister of the Public Business Sector, named several projects in clean energy sector, including a 1-gigawatt (GW) solar power plant project in Naga Hammadi Aluminum Complex with an investment cost of $750 million.
Shimi also talked about another project at El Nasr Glass and Crystal Company for glass production used in solar power plants.
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