Planning and Energy Ministers hold talks on FY2025/2026 investment strategy
Cairo – March 11, 2025: Rania Al-Mashat, the Minister of Planning, Economic Development, and International Cooperation, recently met with Mahmoud Esmat, the Minister of Electricity and Renewable Energy, to review the investment strategy for the electricity and renewable energy sector for the fiscal year 2025/2026.
The meeting also covered the ongoing investment initiatives for the current fiscal year, FY2024/2025, which allocate nearly LE 99.9 billion to support 48 significant projects within the Ministry of Electricity and Renewable Energy.
A major focus of the discussion was the vital role that electricity and renewable energy play in bolstering Egypt's economic growth while promoting long-term sustainability across the nation.
Al-Mashat emphasized the government's commitment to enhancing the efficiency of the national electricity system, leveraging technological advancements, and increasing the share of renewable energy in the country's energy mix.
Egypt aims to reach 42 percent of its energy capacity from renewable sources by 2030, an initiative that aligns with the nation's broader environmental sustainability goals.
Esmat highlighted the country's ongoing infrastructure reconstruction efforts, noting that the government has strengthened the legislative framework to foster private sector investment and attract international financing for renewable energy projects.
He outlined ambitious plans to expand Egypt's renewable energy capacity, including increasing solar and wind energy output.
By the end of 2026, Egypt aims to generate 12,000 MW from renewable sources, with additional contributions from storage batteries (3,350 MW) and clean nuclear energy (3,600 MW) by 2029. These developments will not only help reduce carbon emissions but also create job opportunities and stimulate economic growth.
Al-Mashat stressed that the electricity sector is essential to Egypt's overall economic development, as it supports industrial, service, tourism, and agricultural sectors, as well as the development of new urban communities.
The electricity sector's growth is also closely linked to GDP growth, particularly in the manufacturing sector, which relies heavily on stable and efficient energy supplies.
Esmat also provided insights into Egypt's strategy to become a regional energy hub, connecting energy markets across Africa, Europe, and the Middle East.
He outlined key electricity interconnection projects with neighboring countries, including Sudan, Libya, Jordan, and a forthcoming project with Saudi Arabia, expected to be operational later this year.
Esmat further highlighted collaborative efforts with the European Union, particularly the interconnections with Greece and Italy, aimed at achieving regional energy integration. These projects will facilitate the cross-border transmission of clean electricity, promoting energy stability and sustainability in the region.
The meeting also addressed the priorities of the 2025/2026 investment plan, which focuses on optimizing renewable energy resources, increasing private sector involvement, and creating an attractive investment climate.
A major goal is to transform Egypt into a central hub for electricity interconnection and to strengthen economic integration with neighboring countries. Additionally, improving electricity distribution services and enhancing transmission networks are crucial for supporting sustainable development initiatives, especially those related to food security, industrial growth, and urban expansion.
The government's strategy to address climate change was also a key focus, with efforts aimed at improving electricity consumption efficiency, reducing energy losses, and ensuring the long-term sustainability of Egypt's energy resources.
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