CAIRO - 5 August 2024: Egypt's Vision 2030 aims to ensure that the energy sector is able to meet all development needs for energy resources and maximize the efficient use of its various sources (traditional and renewable), which leads to an effective contribution to driving the economy and preserving the environment.
A report by the Ministry of Planning and International Cooperation explained that the vision seeks to limit the negative effects of the depletion of traditional energy sources that are exhaustible by nature, and to increase reliance on renewable energy sources while achieving leadership in them.
The updated vision proposes ways and policies to enhance sustainable energy systems and resources, including:
- Creating an attractive climate for investment in the field of new and renewable energy.
- Stimulating private sector participation in implementing renewable energy power generation projects by creating a competitive electricity market.
- Cooperating with research centers to solve the problem of high energy storage costs.
- Following up on developments in electricity storage technologies related to renewable energy systems.
- Studying their use in maintaining the stability of the electricity grid.
- Increasing the capacity of the electricity grid to absorb electricity from renewable sources.
- Encouraging the use of small-scale decentralized renewable energy in industrial, tourist, residential and service facilities
- Spreading energy efficiency improvement technology to reduce electricity and fuel consumption in various sectors.
Three dimensions
The updated Egypt Vision 2030 took into account the integration between the three dimensions of sustainable development (economic, social and environmental) throughout the entire document in its governing principles and capabilities, as well as its strategic and general objectives, and this was one of the main drivers of the modernization process. Therefore, energy transformations not only contribute to achieving the strategic goals of advanced infrastructure and a sustainable integrated ecosystem, but also support the achievement of other strategic goals, and a number of its general goals indirectly.
Regarding national efforts in the field of energy, these efforts are consistent with what was stated in Egypt's Vision 2030 in its updated version by creating a legislative and regulatory environment that supports the transition to new and renewable energy and providing the necessary incentives to stimulate investment in this field, in addition to expanding new and renewable energy production projects and benefiting from the enormous natural potential that Egypt enjoys from sources to produce this energy.
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