Egypt pledges to boost renewable energy share – GAFI’s CEO

Egypt’s Energy Strategy 2035 aims to significantly increase the country’s reliance on renewable energy sources with plans to raise the share of renewable energy in the energy mix to approximately 42 per cent by 2035.

In addition to expanding renewable energy sources, Egypt is also committed to improving energy efficiency. The government aims to reduce energy consumption across all sectors by 18 per cent, said General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba on Sunday.

Speaking at the opening session of the third Green Community Forum on Sunday, Heiba highlighted Egypt’s abundant solar and wind energy resources, noting the country’s potential to produce around 2 terawatts of renewable energy. To encourage investment in this sector, the government has allocated vast areas for renewable energy projects and introduced incentives for the production of solar panels and wind turbines.

In the green hydrogen sector, Egypt has enacted a new law to promote production and established a National Hydrogen Council. The government has also granted “golden licences” to expedite the approval process for green hydrogen and green ammonia projects.

The recent Egyptian-European Investment Conference witnessed significant interest in Egypt’s renewable energy sector, with agreements and memoranda of understanding worth over €67 billion signed. The European Union has expressed its intention to import 10 million tons of green hydrogen from outside Europe, and Egypt is well-positioned to become a major supplier, GAFI CEO added.

These initiatives align with Egypt’s Vision 2030 for sustainable development and demonstrate the country’s commitment to transitioning to a cleaner energy future.

Attribution: The Egyptian Cabinet

Subediting: Y.Yasser