Latest news with #ElectricityandRenewableEnergy
Daily News Egypt
21 hours ago
- Business
- Daily News Egypt
Electricity Minister visits Europe's largest pumped-storage hydropower station to discuss renewable integration
As part of Egypt's efforts to modernize its energy infrastructure and expand renewable energy adoption, Minister of Electricity and Renewable Energy Mahmoud Esmat began his visit to France by touring the Grand Maison plant—Europe's largest pumped-storage hydropower station. The Grand Maison facility, located in the French Alps, plays a vital role in grid stability and is a flagship site for several EU-funded projects aimed at testing smart technologies that enhance hydropower's ability to support modern electricity networks. With a capacity of 1,800 megawatts and advanced reversible turbine systems, the plant is capable of quickly ramping up to full output in just three minutes, producing an annual total of 1,420 gigawatt-hours. The minister's visit falls within the framework of Egypt's national energy strategy and the electricity sector's plan to increase the share of renewable energy in the country's energy mix. This transition necessitates integrating advanced storage solutions—such as pumped-storage hydropower—to ensure the stability and sustainability of the national grid. During the visit, Esmat received a comprehensive briefing from plant officials on the Grand Maison's operational structure, including its two power stations—one above ground for conventional hydropower and another underground for pumping and generation. Officials also highlighted the plant's dual-mode turbine systems, which generate electricity during peak demand and operate as pumps during off-peak hours, storing energy for later use. Esmat praised the technological advancements at the facility, particularly its structural design, operating systems, and coordination with grid operators. He stressed the importance of Egypt learning from and collaborating with French expertise, especially in areas such as clean energy, grid stability, pumped-storage technology, smart control centers, technical training, and energy loss reduction. The minister emphasized Egypt's openness to expanding partnerships with French energy companies and attracting greater investment in the Egyptian energy sector. He reiterated the Ministry's commitment to encouraging both domestic and international private sector participation in energy infrastructure projects. Esmat reaffirmed the Ministry's strategic focus on diversifying the energy mix and enhancing the share of renewables in electricity generation. Under Egypt's national energy strategy, renewable energy is expected to account for over 42% of total generation by 2030 and 60% by 2040. The plan includes large-scale integration of energy storage technologies and the development of pumped-storage facilities to ensure reliability and reduce dependence on fossil fuels. The minister concluded by highlighting Egypt's dedication to maximizing the use of its natural resources, reducing carbon emissions, and transitioning to a low-carbon energy future through innovation, international cooperation, and robust private sector engagement.
Daily News Egypt
5 days ago
- Business
- Daily News Egypt
Egypt approves $388m in private renewable energy projects for direct industrial supply
Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, has awarded qualification certificates to four companies selected to operate under the country's newly adopted private-to-private (P2P) power agreement model. The initiative allows private energy producers to generate and sell electricity directly to industrial consumers, marking a transformative step in Egypt's energy liberalization strategy and commitment to sustainable development. The approved projects represent a combined capacity of 400 megawatts and total investments of $388m. Each company will build its own renewable energy power plant and supply electricity directly to industrial clients, while paying a transmission fee to the Egyptian Electricity Transmission Company (EETC). These agreements are structured with no financial burden on the state and do not require sovereign guarantees. Among the newly qualified projects, Neptune for Electricity Production and Sales will supply solar power to the Suez Steel Plant. AMEA Power will provide electricity from its solar facility to the Suez Canal Container Terminal and Bivar Group for Chemicals. TAQA PV is set to supply Ezz Steel through a hybrid solar and wind power station, while ENARA for Renewable Energy Services will generate electricity from a hybrid facility for both the Helwan Fertilizers plant and the Alamein Silicon Products Complex. Minister Esmat stated that the initiative is being implemented in line with Egypt's Electricity Law, which is designed to open the market to competition, enhance efficiency, and attract private investment. He emphasized that liberalizing the electricity sector is a key strategic step in building a dynamic, competitive energy market that reduces costs, improves service quality, and strengthens Egypt's role as a regional energy hub. The Minister highlighted that the P2P framework enables industrial consumers to secure reliable, renewable electricity while contributing to their climate goals. These projects will also allow companies to certify their clean energy usage and reduce emissions, facilitating access to green export markets. Esmat noted that the Egyptian Electric Utility and Consumer Protection Regulatory Agency had completed its review of qualification submissions from seven companies, each proposing 100-megawatt renewable energy projects. The evaluation process was conducted in collaboration with a global consulting firm and the European Bank for Reconstruction and Development (EBRD), which helped develop the regulatory guidelines and legal framework for the P2P agreements. He reaffirmed the Ministry's commitment to building a transparent and investor-friendly environment that enables both producers and consumers to actively participate in Egypt's energy transition. These efforts are integral to supporting the national green economy agenda, expanding renewable energy capacity, and modernizing the country's power infrastructure.
Daily News Egypt
6 days ago
- Business
- Daily News Egypt
Egypt, Sweden strengthen clean energy partnership with focus on storage, grid integration
In a high-level meeting aimed at advancing energy cooperation, Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, received Swedish Minister for Foreign Trade and International Development Cooperation, Benjamin Dousa, at the Ministry's headquarters in the New Administrative Capital. Also in attendance were Dag Juhlin-Dannfelt, Sweden's Ambassador to Cairo; Gaber Desouky, Chairperson of the Egyptian Electricity Holding Company; Mona Rizk, Chairperson of the Egyptian Electricity Transmission Company; and senior officials from both governments, as well as representatives from joint Egyptian-Swedish renewable energy ventures. Discussions focused on strengthening bilateral collaboration across several strategic areas, including renewable electricity generation, large-scale energy storage, grid interconnection with Europe, green hydrogen production, technology innovation, and knowledge transfer. The two sides explored ways to integrate renewable energy more effectively into Egypt's national grid, enhance grid stability, and boost the efficiency of clean energy distribution. Emphasis was placed on storage solutions to optimize the use of intermittent renewable sources such as solar and wind. Key topics included wind energy, green hydrogen projects, and hydropower. The Swedish Development Finance Institute's support in funding studies related to capacity planning and the integration of renewables was also reviewed. Notably, the discussions included updates on a planned 1,000-megawatt independent battery storage system and progress on Egypt–EU electricity interconnection initiatives. The talks also highlighted ongoing projects involving Swedish firms and explored new investment opportunities, in line with Egypt's broader energy diversification strategy. Officials underscored the importance of private sector involvement and international partnerships in achieving the country's clean energy goals. Minister Esmat praised Sweden's continued support for Egypt's national energy strategy, which aims to raise the share of renewables in the energy mix to 42% by 2030 and 65% by 2040. He acknowledged the value of Swedish technical studies in supporting capacity planning and grid modernization. He emphasized that most renewable projects in Egypt are implemented by both local and international private-sector entities, including active participation from Swedish companies in solar and wind power. Esmat also reiterated Egypt's commitment to becoming a regional energy hub through cross-border electricity interconnection, enabling the export of surplus renewable energy—especially from solar and wind—to European markets. He stressed the importance of grid upgrades and increased renewable capacity in achieving this goal. Concluding the meeting, Minister Esmat reaffirmed that electricity remains a national priority, as it underpins development across all sectors. With its abundant wind and solar resources, Egypt is well-positioned to lead in clean energy. Recent legislative reforms have been enacted to attract investment and support the country's transition toward a sustainable, low-carbon future.
See - Sada Elbalad
7 days ago
- Business
- See - Sada Elbalad
Egypt, Germany Enhance Economic Partnership with €118 Million Financial Co-op Agreement
Nada Mustafa As part of the strong partnership between the Arab Republic of Egypt and the Federal Republic of Germany, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and H.E. Mr. Jürgen Schulz, the German Ambassador to Egypt, signed a financial cooperation agreement worth €118 million (approximately EGP 6.7 billion). In addition, a new tranche of the Egypt-Germany Debt Swap Program was signed, valued at €21 million (equivalent to EGP 1.2 billion), and aimed at improving renewable energy supply. The event was attended by H.E. Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy. The financial cooperation agreement encompasses various fields, including a financial support agreement for the Comprehensive Technical Education Initiative. This initiative, benefiting the Ministry of Education and Technical Education, includes a €32 million grant to support the establishment of 25 Egyptian Centers of Excellence (specialized training centers and applied technology schools), by constructing approximately three sector-focused centers of excellence. The agreement also includes €86 million—comprising €54 million in development financing and €32 million in grants—to fund the connection of Aqua Power Stations (1) and (2), enabling the offload of 1,100 megawatts of wind energy. This is part of the energy pillar of the NWFE (Nexus of Water, Food, and Energy) program. Furthermore, H.E. Minister Al-Mashat and the German Ambassador signed a new debt swap agreement involving the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and the German Development Bank (KfW). Valued at €21 million, this agreement will help improve the supply of sustainable and renewable energy. With this signing, the total value of debt swaps implemented between Egypt and Germany rises to approximately €297 million (equivalent to EGP 16.8 billion). In her remarks, H.E. Dr. Rania Al-Mashat emphasized that these agreements further solidify Egypt's partnership with Germany, contributing to economic development, climate action, and investment in human capital. She affirmed that the financial support agreement is part of an ongoing partnership, bolstered under the framework of the Egyptian-European strategic cooperation and backed by both governments' leaderships. H.E. Dr. Al-Mashat also underscored the importance of the €21 million debt swap agreement, which builds on cooperation initiated in 2011. Numerous development projects have been carried out under this framework, and the debt swap program with Germany is a practical application of calls to reform the global financial system. Minister of Electricity and Renewable Energy H.E. Dr. Mahmoud Esmat confirmed that Egypt has undergone a comprehensive infrastructure overhaul and enacted legislative reforms to attract private sector and international investment in electricity and renewable energy, particularly in the renewable energy sector, making Egypt one of the most attractive destinations for investment in this sector. He highlighted the expansion of both solar and wind capacities, driven by both domestic and foreign private sector investment, and praised the Ministry of Planning for its support of the electricity sector and the broader clean energy transition strategy. For his part, the German Ambassador H.E. Mr. Jürgen Schulz stated that Egypt is an important partner for Germany in achieving global climate goals. This is why Germany supports Egypt with expertise and funding in its strategic investments for the future, especially in the expansion of renewable energy. From the very beginning, Germany has supported Egypt's climate initiative NWFE as its largest bilateral partner, with assistance amounting to approximately EGP 15 billion. The projects referred to in the agreement signed by us today will make it possible to supply more than 2.5 million households with green electricity. During COP27, the German government committed €250 million to support the energy pillar of Egypt's country platform for the NWFE program, including €104 million in debt swaps. An agreement worth €54 million was signed in 2023 to support investment in the electricity transmission network and to connect two wind farms—Noes Wind Farm and Amunet Red Sea Wind Farm, with a combined capacity of 500 megawatts—to the national grid. Work is currently underway to sign the second tranche of the debt swap under this program, valued at €50 million. It is worth noting that the debt swap program with Germany is governed by a structured framework to ensure optimal implementation and maximum benefit. The Ministry of Planning, Economic Development, and International Cooperation coordinates with the German side on project selection, negotiates with the German Development Bank and beneficiary national entities, and finalizes technical details and the financing agreement. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Daily News Egypt
7 days ago
- Business
- Daily News Egypt
Germany, Egypt ink €118m finance deal, new €21m debt swap tranche
Egypt and Germany signed a €118m (approx. EGP 6.7bn) financial cooperation agreement to support education and the energy pillar of Egypt's 'NWFE' programme, alongside a new €21m (EGP 1.2bn) debt swap tranche for renewable energy supply. The agreements were signed by Egypt's Minister of International Cooperation, Rania Al-Mashat, and German Ambassador to Egypt, Jürgen Schulz. Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, also attended the signing for the new debt swap tranche, which raises the Egypt-Germany Debt Swap Programme's total value to approximately €297m (EGP 16.8bn). The €118m financial cooperation includes a €32m grant for the Comprehensive Technical Education Initiative, benefiting the Ministry of Education and Technical Education. This aims to establish 25 Egyptian Centres of Excellence by constructing around three sector-focused centres. The agreement also allocates €86m – €54m in development financing and €32m in grants – to connect Aqua Power Stations (1) and (2), enabling the offload of 1,100 megawatts of wind energy for the NWFE (Nexus of Water, Food, and Energy) programme's energy pillar. The separate €21m debt swap agreement involves the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and the German Development Bank (KfW), targeting sustainable and renewable energy supply improvement. Al-Mashat said 'these agreements further solidify Egypt's partnership with Germany, contributing to economic development, climate action, and investment in human capital.' She added that 'the financial support agreement is part of an ongoing partnership, bolstered under the framework of the Egyptian-European strategic cooperation and backed by both governments' leaderships.' Al-Mashat also noted the importance of the '€21m debt swap agreement, which builds on cooperation initiated in 2011. Numerous development projects have been carried out under this framework, and the debt swap program with Germany is a practical application of calls to reform the global financial system.' Electricity Minister Esmat confirmed that 'Egypt has undergone a comprehensive infrastructure overhaul and enacted legislative reforms to attract private sector and international investment in electricity and renewable energy, particularly in the renewable energy sector, making Egypt one of the most attractive destinations for investment in this sector.' He highlighted the 'expansion of both solar and wind capacities, driven by both domestic and foreign private sector investment.' Ambassador Schulz stated, 'Egypt is an important partner for Germany in achieving global climate goals. This is why Germany supports Egypt with expertise and funding in its strategic investments for the future, especially in the expansion of renewable energy.' 'From the very beginning, Germany has supported Egypt's climate initiative NWFE as its largest bilateral partner, with assistance amounting to approximately EGP 15bn. The projects referred to in the agreement signed by us today will make it possible to supply more than 2.5 million households with green electricity,' Schulz added. During COP27, Germany committed €250m to support the energy pillar of Egypt's NWFE programme, including €104m in debt swaps. A €54m agreement was signed in 2023 for electricity transmission network investment and to connect two wind farms (Noes Wind Farm and Amunet Red Sea Wind Farm, combined capacity 500 megawatts) to the national grid. Work is ongoing to sign the second debt swap tranche under this programme, valued at €50m.
