Egypt is prioritising renewable energy in its new investment plan to become a regional energy hub, officials announced after a meeting between Planning Minister Rania al-Mashat and Electricity Minister Mahmoud Essmat on Tuesday. The discussions focused on the electricity and renewable energy sector's investment strategy for fiscal year 2025/26. Al-Mashat emphasised the sector's critical role in economic development and outlined the goal of achieving 42% of installed capacity from renewables by 2030. She highlighted the importance of attracting private sector investment and promoting sustainable resource management. "Electrical energy constitutes the basic pillar for all economic and social development plans," said Al-Mashat. Essmat noted the ongoing infrastructure upgrades and legislative changes designed to encourage investment in renewable energy projects. He stated that Egypt is aiming for 12,000 megawatts of renewable energy capacity by the end of 2026, with further expansion planned by 2029. He stressed that these projects would reduce carbon emissions and drive economic growth. Egypt also aims to become a regional energy hub, linking markets in Africa, Europe, and the Middle East. Essmat mentioned existing electricity interconnection projects with neighbouring countries and highlighted plans for projects with Saudi Arabia, Greece, and Italy. Priorities for the 2025/26 plan include optimising the use of renewable energy sources, developing electricity distribution, and strengthening transmission networks to support sustainable development and economic integration.
