Renewable Energy
Egyptian Minister of Electricity Mohamed Shaker discussed in a meeting Tuesday with Minister of Enterprises and Made in Italy Adolfo Urso means of boosting cooperation in the fields of renewable energy and green transition.
The first project involves the construction of a 10-megawatt solar power generation station at the Assiut Oil Refining Company. Enppi and Petrojet, two subsidiaries of the petroleum sector specializing in engineering designs, general contracting, and construction, have been assigned to undertake this venture
This budget will be divided, with approximately LE 4 billion allocated for current expenses and around LE 3.7 billion designated for investments in renewable energy projects.
The index data attributed this advanced ranking to the fact that Egypt has taken measures to invest in large-scale renewable energy projects, such as encouraging the installation of solar and wind energy.
As part of Egypt's strategy to promote the transition towards a green economy, expand the utilization of new and renewable energies, and diversify energy sources for industrial electricity production, the recent collaboration between the Ministry of Public Business Sector and the Norwegian company SCATEC marks a significant milestone.
The project will involve investments worth $2 billion, according to a statement from SK Ecoplant. The companies aim to have the project fully operational by 2029
El Molla outlined Egypt's revised goals for national emissions reduction contributions, aiming to expand the country’s use of green energy and achieve a 42% integration of renewable energy into the energy mix by 2035
Madbouly said more than 1,000 private sector companies that take part in national programs which will help improve the Egyptian economy on all levels
The meeting, co-chaired by High Representative Josep Borrell and Egyptian Foreign Minister Sameh Shoukry, focused on the success of the Economic and Investment Plan, which aims to mobilize €9 billion in investments for critical areas such as food, water, and energy
During the meeting, Kazbekov expressed the NDB's keenness to expand investments in Egypt and foster closer collaboration between the bank and the electricity sector
The implementation of the project will take place within privately operated free zones and will be executed over two phases
The initiative is worth $2.5 million.
The Egyptian Cabinet's Information and Decision Support Center (IDSC) issued a report Monday expecting that Egypt's transition to a renewable energy system will increase the demand for metals by at least four times by the year 2040.
Emphasizing the strong relations between the EBRD and Egypt, Madbouly called on the bank to expand the scope of cooperation on renewable energy projects between the two
Shaker added that an international consultant from Belgium was contracted to conduct a comprehensive study of the cost of supporting and developing the electricity transmission network in Egypt.
Egypt has witnessed a remarkable transformation in the electricity sector and has become a role model for many countries, as exceptional achievements have been made.
President Abdel Fatah al-Sisi was briefed Thursday on the executive status of investments in the Suez Canal Investment Zone (SCzone).
The government and Actis commenced discussions on the sale following an announcement by Minister of Planning and Economic Development Hala El Said last month
The New and Renewable Energy Authority will secure a land plot for Norway's Scatec ASA to build a wind farm western Sohag as per an agreement they signed Wednesday.
Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, confirmed that Egypt aims to reach 60 percent of dependence on renewable energy by 2040.
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