Egypt reviews progress of renewable energy projects

Egypt’s Prime Minister Moustafa Madbouly reviewed the progress of new and renewable energy projects on Sunday, stressing the need to keep implementation on schedule and prevent delays as the new fiscal year begins.

Madbouly said the government is working to remove obstacles facing ongoing projects while ensuring timely payments to international and local partners to strengthen private sector partnerships and improve the investment climate. He added that a follow-up meeting with Central Bank Governor Hassan Abdalla and Finance Minister Ahmed Kouchouk would review the financial allocations needed before presenting the matter to President Abdel Fattah El-Sisi.

Electricity Minister Mahmoud Esmat said the plan includes upgrading the national electricity grid, expanding energy storage systems, and strengthening private sector partnerships to increase the share of clean energy in Egypt’s energy mix.

Kouchouk said the new fiscal year’s budget prioritises the green transition through sustainable financing frameworks and dedicated funding for renewable energy projects. Madbouly directed the Ministries of Electricity and Finance and the Central Bank to maintain close coordination on project financing and remove regulatory obstacles to ensure timely implementation.

Attribution: Amwal Al Ghad English