Egypt, EU discuss expanding renewable energy partnership

Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, held a virtual meeting with Gert Jan Koopman, Director-General of Neighbourhood and Enlargement Negotiations at the European Commission, to discuss expanding the Egypt-EU partnership in renewable energy.

The discussions focused on ongoing structural reforms under the EU’s Macro-Financial Assistance (MFA) program, which saw the first €1 billion tranche signed during the Egypt-EU Investment Conference last June. Both sides also coordinated on the next phase of budget support and enhancing macroeconomic stability.

Al-Mashat highlighted the significant role of the energy sector in Egypt-EU economic relations, particularly in expanding renewable energy and green hydrogen production.

She noted the EU’s support, alongside multilateral institutions like the European Bank for Reconstruction and Development (EBRD), in developing Egypt’s National Green Hydrogen Strategy and implementing renewable energy projects under the “NWFE” platform, including 10 GW of wind and solar power.

Al-Mashat emphasised the shared priorities between the Egyptian government and the EU in securing energy supplies and promoting green transformation.

She also pointed out Egypt’s efforts to involve the private sector more in renewable energy projects, stressing that the agreed mechanisms with the EU will significantly boost this direction.

Egypt aims to increase renewable energy to 42 per cent of its electricity supply by 2030, aligning with the six priorities of the Egypt-EU partnership, including economic stability and investment promotion.