Renewable Energy
The program aims to boost renewable energy production, reduce reliance on thermal power plants, and support Egypt’s National Climate Change Strategy 2050.
Prime Minister Moustafa Madbouli inaugurated on Saturday Abydos 1 Solar PV Park project in Kom Ombo in Aswan governorate.
The $1.1 billion venture has already garnered significant financial support, including $200 million from the European Bank for Reconstruction and Development (EBRD) and $170 million from the African Development Bank (AfDB).
The report indicates that new wind energy power plants are scheduled to be implemented, targeting their operation by 2030 with a capacity of 12,750 megawatts by the private sector.
Its capacity will be 100,000 tons per annum in the first phase that will be completed by 2030.
JA Solar will oversee the study phase, with investments projected at $138 million for the solar cell facility and $75 million for the solar panel factory, which will primarily serve local markets.
These agreements aim to establish a 5 GW floating solar power project on Lake Nasser and a 2.8 GW solar power project in Nagaa Hammadi, marking a significant step toward advancing clean energy infrastructure in both nations.
The agreement aims to study a groundbreaking 3.2 GW hybrid renewable energy project combining wind and solar power in the Suez Governorate to repower the Zafarana wind farm.
These agreements bring together the Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA), and Alcazar to initiate studies for a 2 GW wind power project.
Representing Egyptian President Abdel Fattah al-Sisi, Madbouly participated in a roundtable on energy and climate change mitigation, emphasizing Egypt’s target of 42% renewable energy in its energy mix by 2030.
During the opening session of the Mediterranean Energy Conference 2024, Badawi stressed the importance of collaboration in the energy sector, calling for increased exploration and investment to tap into Egypt's vast natural gas reserves
Egyptian Minister of Electricity and Renewable Energy Dr. Mahmoud Esmat, received at the ministry's headquarters in the New Administrative Capital, the Greek Minister of Environment and Energy Theodoros Skylakakis, and his accompanying delegation.
Ambassador of the Republic of Korea to Egypt, Kim Yonghyon, met with H.E. Mahmoud Esmat, Egypt's Minister of Electricity and Renewable Energy, to discuss ways to enhance bilateral cooperation in the electricity and renewable energy sectors.
Top Egyptian officials and international leaders meet to explore key investment opportunities and economic collaboration.
The discussions delved into projects geared towards diminishing reliance on imported liquefied gas to curtail the import expenditure. Additionally, Globeleq articulated its interest in proposing ventures for sustainable transportation utilizing clean energy solutions in Egypt.
All necessary studies for the project have been finalized. The signing of the final contracts is anticipated by the close of 2024 to pave the way for project commencement.
These stations, with a combined capacity of around 1,000 megawatts, will be set up in Upper Egypt, notably in the Aswan Governorate.
Moreover, the Minister disclosed the implementation of solar energy projects amounting to 3,700 megawatts, including Abydos 1 and 2, SCATEC, and Masdar ventures.
These combined efforts are geared towards meeting the growing demand for electricity and facilitating the operation of additional capacities by the upcoming summer.
The approval was granted during a Cabinet meeting presided over by Prime Minister Mostafa Madbouly.
