Prime Minister Madbouly Inspects 650-Megawatt Wind Power Plant in Ras Ghareb

Egypt Today

15-04-2025

CAIRO - 15 April 2025: Prime Minister, Mostafa Madbouly, visited a 650-megawatt wind power plant in Ras Ghareb, as part of his tour of renewable energy projects in the Red Sea Governorate. The inspection reflects Egypt's ongoing efforts to strengthen its renewable energy infrastructure and transition toward a more sustainable and diversified energy mix.
During the tour, Minister of Electricity and Renewable Energy Mahmoud Esmat reaffirmed the government's strong focus on increasing the use of renewable energy, reducing carbon emissions, and diversifying power sources. He noted that Egypt's national energy strategy aims to raise the contribution of renewable energy to over 42 percent of the electricity mix by 2030 and 65 percent by 2040. The strategy also seeks to maximize returns from Egypt's natural resources, particularly in the field of new and renewable energy generation.
The minister announced that the board of the Egyptian Electric Utility and Consumer Protection Regulatory Agency has approved the selection of eligible producers and industrial consumers to operate under private sector agreements known as 'P2P' (Producer-to-Consumer Power Purchase Agreements). These agreements allow producers to build power stations and sell electricity directly to industrial consumers. Producers will pay a transmission fee to the Egyptian Electricity Transmission Company, while the government will not bear any costs or offer sovereign guarantees.
Esmat emphasized the agency's commitment to the Electricity Law, which aims to liberalize the electricity market, promote fair competition among all stakeholders—including producers, consumers, and distributors—and enhance regulatory oversight to ensure transparency and market fairness. This approach is designed to create a more attractive investment climate for the private sector, improve electricity service quality, and reduce costs for industrial users.