Egypt's Energy Strategy 2040 saves 51M tons of fuel annually at cost of $30bln

CAIRO - 7 November 2024: Egypt's Energy Strategy 2040 achieves all the state's goals towards sustainable development, economic development, confronting climate change, and reducing dependence on traditional fuels in electricity production, according to Dr. Hafez Salmawy, former head of the Electricity Regulatory Authority and consumer protection expert in the field of energy.

 

Egypt's Energy Strategy 2040, which was approved by the Cabinet after its amendment, aims to produce 68,000 megawatts of renewable energy, whether solar, wind or water, said Salmawy.

 

He further explained that producing these capacities from renewable energies achieves annual savings in the fuel used to produce the same amount of electricity by relying on traditional energy, reaching 51 million tons of fossil fuel.

 

Salmawy indicated that saving 51 million tons of fossil fuel annually achieves financial savings of up to $30 billion annually by 2040, noting that according to studies, the cost of a ton of fossil fuel is expected to reach $600 per ton.

 

Salmawy added that one of the most important features of Egypt's Energy Strategy 2040 is its interest in preserving the environment and confronting climate change, noting that it aims to reduce carbon dioxide emissions from 90 million tons to 42 million tons by 2040, although the expected production capacities will be several times higher than this year.