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Daily News Egypt
13 hours ago
- Business
- Daily News Egypt
Egypt's President reviews energy plan, stresses renewables and localisation
Egyptian President Abdel Fattah Al-Sisi has directed the government to intensify efforts to attract investment in the renewable energy sector and pursue the local manufacturing of its components, the presidency said in a statement. The president met in Alamein City on Tuesday with Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mahmoud Essmat to review the electricity ministry's action plan. According to presidential spokesperson Ambassador Mohamed El-Shennawy, the discussion covered the development of Egypt's energy mix, the use of renewable energy and storage batteries, and efforts to improve the national grid through electrical interconnection projects. The electricity minister outlined measures taken by the ministry to improve services, including coordinating with the petroleum ministry to secure gas and fuel for power stations. He also detailed the regular monitoring of maintenance programmes, efforts to combat electricity theft and reduce losses in the network. Essmat stated that plans were underway to add approximately 2,000 megawatts (MW) of new capacity from renewable sources, representing investments of around $2.3bn. The spokesperson added that the meeting also addressed efforts to localise the manufacturing of equipment for the electricity and renewable energy sectors. This includes coordination with major foreign companies that manufacture storage batteries and wind turbines to establish those industries in Egypt. The minister provided an update on the national grid's capacity to absorb renewable energy. He noted that current installed renewable capacity totals 8,031 MW, sourced from wind, solar, and hydropower. The meeting also reviewed projections for renewable capacity in 2030 under the country's Integrated and Sustainable Energy Strategy, as well as the expected solar and wind capacity to be added to the grid by June 2028. The spokesperson said the meeting also covered developments on major energy projects. These include the Dabaa Nuclear Power Plant, the 3,000 MW Egypt-Saudi Arabia electrical interconnection project with investments of about $1.8bn, and the ongoing efforts to implement the Egypt-Greece electrical interconnection. President Al-Sisi stressed the need for the government to ensure a sustainable supply of electricity for the national grid, industrial sectors, and services, and to intensify work on projects aimed at raising the efficiency of the energy system. He directed the government to continue improving electricity services in all governorates and to enhance the national grid's ability to handle expected increases in consumption. This would be achieved through the continuous modernisation of generation plants, transmission and distribution networks, and control centres, the statement said.
Al-Ahram Weekly
a day ago
- Business
- Al-Ahram Weekly
El-Sisi reviews national energy strategy, renewable energy integration - Society
President Abdel-Fattah El-Sisi on Tuesday reviewed plans to integrate renewable sources and battery storage as part of the country's national energy strategy. Related Egypt PM urges public to conserve electricity amid exceptional regional circumstances He also reviewed efforts to enhance energy efficiency and quality, reduce fuel consumption, and promote the economic operation of power plants. This came during a meeting in New Alamein with Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mahmoud Esmat. President El-Sisi also reviewed ongoing efforts to strengthen the national electricity grid through regional interconnection projects, enhance transmission networks, and improve distribution networks to minimise technical losses. Minister Esmat presented an overview of the ministry's initiatives to improve service quality, according to a presidential statement. These include close coordination with the Ministry of Petroleum and Mineral Resources to meet fuel and gas demands for power plants, regular monitoring of maintenance and operational programs, and crackdowns on electricity theft. Esmat also noted that around 2,000 megawatts of new renewable energy capacity is being added with investments estimated at $2.3 billion. Additionally, the meeting discussed efforts to localize the manufacturing of key components for electricity and renewable energy, including partnerships with major global companies specialised in battery storage systems and wind turbine technology. The minister reviewed progress in enhancing the national grid's readiness to accommodate increased renewable capacity. He noted that currently installed renewable sources—including wind, solar, and hydropower—have reached a total capacity of 8,031 megawatts. In line with Egypt's Integrated and Sustainable Energy Strategy, the meeting also presented projections for renewable energy capacities by 2030 and outlined the expected solar and wind additions to the national grid by June 2028. Discussions also covered measures to improve power generation efficiency and fuel savings achieved through changes in plant operation strategies. The president received updates on key strategic projects, including the Dabaa Nuclear Power Plant, the Egypt–Saudi Arabia electrical interconnection project (3,000 megawatts, a $1.8 billion investment), and the Egypt–Greece interconnection initiative. President El-Sisi emphasised the importance of ramping up efforts to attract investment into the renewable energy sector and securing a stable and sustainable supply of electricity for the national grid and industrial and service sectors. During the meeting, El-Sisi also directed the acceleration of ongoing projects focused on improving the energy system's efficiency and enhancing electricity services across all governorates. The president underscored the need to continuously modernise generation plants, transmission and distribution infrastructure, and control centres, while also maximising the use of renewable energy resources. El-Sisi further emphasised the strategic importance of localising industries linked to renewable energy, reinforcing Egypt's energy security and economic development. Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
20-03-2025
- Business
- See - Sada Elbalad
Egypt's Petroleum Min. Participates in 11th Berlin Energy Transition Dialogue
Taarek Refaat Karim Badawi, Minister of Petroleum and Mineral Resources participated in the 11th Berlin Energy Transition Dialogue on March 18 and 19. The dialogue aims to discuss topics related to the changing energy landscape and the transition to clean and renewable energy sources. The current session focuses on mobilizing investments for energy transition and green growth in emerging and developing countries. Badawi reviewed Egypt's comprehensive energy strategy, emphasizing the importance of diversifying energy sources to ensure energy security, sustainability, and economic growth. He also emphasized the importance of natural gas as the most suitable transition fuel with the lowest emissions. Regarding efforts to expand renewable energy, Engineer Karim Badawi indicated that Egypt seeks to strengthen its position as a regional energy hub, leveraging its abundant solar, wind, and other clean energy resources. He pointed out the successful completion of the Integrated and Sustainable Energy Strategy until 2040, which aims to increase the share of renewable energy in Egypt's energy mix to 42% by 2030 through the implementation of several projects, such as solar energy projects and wind power plants in the Gulf of Suez region. He also stated that the Ministry of Petroleum and Mineral Resources is working at the national level, in cooperation with the Ministry of Electricity and Renewable Energy in Egypt, to develop an integrated energy efficiency strategy and launch a national program that includes various energy efficiency activities. He pointed out that Egypt aims to become a regional center for hydrogen trade and circulation, in light of the formulation of an ambitious national strategy to attract investment and develop pioneering projects in the field of hydrogen generation and production. This was followed by the approval of a new law that provides tax and export incentives to attract investors in this sector. Badawi also emphasized the importance of regional and international cooperation to expand clean energy projects and build sustainable partnerships to achieve a more prosperous energy future. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 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 Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Daily News Egypt
11-03-2025
- Business
- Daily News Egypt
Egypt's Petroleum Minister participates in global energy conference CERAWEEK in Houston
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, took part in the CERAWEEK global energy conference, held from 10 to 14 March, in Houston, Texas. Themed 'Moving Forward: Energy Strategies in a Complex World,' this year's event focuses on the challenges of ensuring energy security and supply, advancing the energy transition, and assessing the impact of global political trends and technological advancements on the sector. Badawi's participation reflects Egypt's ongoing efforts to strengthen strategic energy relations with the United States, enhance regional cooperation, and attract international investments across the entire oil and gas value chain. As a keynote speaker on the first day, Badawi joined a high-profile panel discussion titled 'Energy Security Challenges: Today and Tomorrow.' He spoke alongside Dan Jorgensen, European Commissioner for Energy and Housing; Fatih Birol, Executive Director of the International Energy Agency; and Leila Benali, Morocco's Minister of Energy Transition and Sustainable Development. The session, moderated by Carlos Pascual, Senior Vice President of S&P Global, explored strategies for addressing global energy security concerns. During his address, Badawi emphasized Egypt's role as a regional energy hub, connecting the Middle East, Africa, and Europe. He outlined Egypt's priorities in boosting oil and gas production, securing energy supplies, and accelerating exploration and development efforts through partnerships with international companies. He also highlighted the country's recent economic reforms and new incentive packages aimed at creating a more attractive investment climate in the energy sector. Badawi discussed Egypt's Integrated and Sustainable Energy Strategy, which focuses on achieving an optimal energy mix by expanding renewables while maintaining oil and gas as core energy sources for decades to come. He stressed the significance of regional cooperation and infrastructure sharing, ensuring energy security and competitive pricing. He also highlighted Egypt's landmark energy agreement with Cyprus and the operators of the Aphrodite and Kronos fields, which allows for the development of Cypriot gas reserves using Egypt's existing gas pipeline infrastructure and LNG export facilities. This agreement is expected to unlock new energy opportunities while serving the mutual interests of all parties. Additionally, he provided updates on electricity interconnection projects with Saudi Arabia and Greece and joint efforts to transport natural gas to European markets. Beyond oil and gas, Badawi highlighted Egypt's mining sector reforms, which aim to increase its GDP contribution from 1% to 5-6% by capitalizing on the country's vast mineral resources. He noted that modernization efforts in the sector are already yielding positive results, paving the way for further growth. The minister also underscored Egypt's commitment to the energy transition, detailing various initiatives to reduce carbon emissions and expand clean energy projects. He emphasized the country's focus on low-carbon hydrogen development, energy efficiency measures, and alternative energy solutions, reinforcing Egypt's long-term sustainability goals. Badawi's participation at CERAWEEK underscores Egypt's growing influence in the global energy landscape, as the country continues to strengthen its regional and international partnerships while advancing its energy security and sustainability objectives.
