Egypt is committed to fostering partnerships and attracting private sector investment in energy projects, Minister of Electricity and Renewable Energy Mahmoud Esmat has said, highlighting the government's efforts to create an attractive investment environment and remove obstacles for development partners, the Egyptian Cabinet reported. Speaking at the opening session of Akhbar Al-Youm Economic Conference, Esmat outlined key measures taken to reform the electricity sector, including legislative improvements and the endorsement of Electricity Law, which paves the way for a fully liberalised electricity market. He also pointed to land allocation for renewable energy projects, localising technology, and expanding electrical equipment manufacturing to reduce reliance on imports. Esmat stressed the critical role of renewable energy in combating climate change, reducing carbon emissions, and cutting dependence on fossil fuels, adding that Egypt aims to add 22,815 MW of solar and wind energy capacity by 2030 while introducing energy storage batteries for the first time. He noted that a comprehensive plan is in place to enhance grid efficiency, ensuring it can integrate new renewable capacities with minimal losses. The transition to a smart grid is a key element of Egypt's newly approved energy strategy, aligning with Vision 2030 and the UN's 17 Sustainable Development Goals, Esmat said, emphasising Egypt's goal of increasing renewable energy's share in the power mix to 42 per cent by 2030 and 65 per cent by 2040. Esmat also underscored Egypt's focus on expanding electricity interconnection projects, which he said play a crucial role in enhancing energy security and boosting renewable energy use in the medium and long term. These projects, he added, foster economic cooperation and strengthen regional energy integration. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
