Egypt seals LoI to join BESS Alliance

Updated 12/4/2023 7:52:00 AM
Egypt seals LoI to join BESS Alliance

Arab Finance: Egypt has signed a letter of intent (LoI) to join the Battery Energy Storage Systems (BESS) Alliance affiliated to the Global Energy Alliance for People and Planet (GEAPP), Minister of International Cooperation Rania Al-Mashat stated on December 3rd.

The signing came on the sidelines of the COP28 summit in Dubai.

Including 10 member countries and several private firms and development partners, BESS aims at securing 5 gigawatts (GW) of renewable energy by 2024 and 400 GWs by 2030 via its storage systems.

Egypt's participation aligns with its priorities to implement the National Sustainable Energy Strategy 2035, increase the share of renewable energy in the energy mix to 42% by 2030, and realize the Nationally Determined Contributions (NDCs) and the National Climate Change Strategy, the statement read.

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