CAIRO - 10 October 2022: Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, confirmed that the expansion of electricity generation projects using new and renewable energy in Egypt, has become indispensable, revealing that these projects have a positive impact on the state on different levels.
Shaker added that projects to generate electricity from renewable energy have significant economic gains, as they will be a major reason for the decrease in selling prices of electricity in the near future because it is considered to be much lower than traditional energy in terms of cost.
Shaker pointed out that among the gains of new and renewable energy projects is that they will be a major reason for liberalizing the electricity market during the next 10 years.
He noted that liberalizing the electricity market will open the door to investors and create a competitive environment in the interest of the citizen.
Shaker added that the Atlas of Egypt, which was prepared by the New and Renewable Energy Authority, shows that it is possible to benefit from the desert areas and the fastest wind speed with a length of 7673 km, stressing that renewable energy plants can be established to generate electricity in these areas with a total capacity of 90,000 megawatts.