Egypt plans solar incentives for households, factories – PM

Egypt will soon announce incentives to encourage factories and households to switch to solar power, Prime Minister Moustafa Madbouly said on Sunday, as the government intensifies efforts to reduce energy consumption and mitigate the impact of regional tensions.

Madbouly made these remarks while chairing a meeting of the Central Crisis Management Committee, where officials reviewed measures to rationalise the use of petroleum products and electricity, as well as efforts to curb government spending.

“The government places this file high on its agenda,” Madbouly said, referring to the planned solar initiative.

He said promoting energy conservation had become increasingly important amid regional tensions and global spillovers, adding that lower consumption would improve efficiency and help ensure the stable operation of key public services.

The meeting was attended by senior ministers and officials, including Central Bank of Egypt (CBE) Governor Hassan Abdalla, Finance Minister Ahmed Kouchouk, Electricity Minister Mahmoud Esmat, Petroleum Minister Karim Badawy, and Planning Minister Ahmed Rostom.

Egypt has expanded renewable energy projects in recent years as it seeks to diversify its energy mix, ease pressure on natural gas supplies, and reduce reliance on conventional fuels.

Attribution: Amwal Al Ghad English