Egypt’s Vision 2030 aims to achieve a diversified, competitive and balanced economy within
the framework of sustainable development. Renewable energy has a central role to play, a role
detailed in the Integrated Sustainable Energy Strategy to 2035, released by the Ministry of
Electricity and Renewable Energy in 2015.
The “ISES 2035” ensures continuous, diversified energy security and establishes the necessary
conditions to enable the increased development of renewables through the engagement of all
sectors. Moreover, the strategy confirms Egypt’s ambition to become an energy hub between
Europe, Asia and Africa by expanding grid interconnections across the Arab region and beyond.
Egypt is home to a wide array of untapped solar and wind resources, and according to the ISES
2035, renewable energy capacity should contribute 42% of power capacity by 2035.
Egypt is a significant player in the oil and gas industry. In 2022, the total production of petroleum wealth during 2022 reached around 79.5 million tons, which is divided into about 27.8 million tons of crude oil and condensate, around 50.6 million tons of natural gas, and 1.1 million tons of butane, in addition to butane produced from refining and manufacturing refineries, the Ministry of Petroleum and Mineral Resources (MoPMR) said in a statement about 2022 achievements and milestones.
In May 2022, Egypt released its 2050 National Climate Change Strategy, which does not include an overall emissions reduction goal. In its second Nationally Determined Contribution (NDC) update, Egypt pledged to have 42% of its power produced from renewable energy in its energy mix by 2030. In 2021, renewable energy generation in Egypt amounted to only 12% of total generated power, according to the Climate Action Tracker website.
Mohamed Shaker, the Minister of Electricity and Renewable Energy, met with Vladimir Kazbekov, the Deputy Head of the New Development Bank of the BRICS alliance, and his delegation. The meeting explored ways to enhance cooperation between the Egyptian electricity and renewable energy sector and the bank. Shaker said that the Egyptian government has implemented several reforms and policies in the electricity sector.
