Latest news with #MinistryofElectricityandRenewableEnergy
Egypt Today
5 days ago
- Business
- Egypt Today
Egypt, Germany Advance Green Energy Ties with €21 Million Debt Swap Deal
CAIRO – 26 May 2025: Egypt has signed a new €21 million debt swap agreement with Germany, further strengthening their long-standing development cooperation. The agreement brings together the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and Germany's KfW Development Bank. This funding will help bolster Egypt's renewable and sustainable energy infrastructure, supporting efforts to enhance energy security and transition to cleaner sources. With this latest deal, the total value of debt swap tranches executed between the two countries now stands at approximately €297 million—equivalent to around EGP 16.8 billion. Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, stressed the significance of the agreement, noting it extends a development partnership that began in 2011 and has since delivered numerous impactful projects. The agreement aligns with Germany's €250 million pledge at COP27 to support Egypt's NWFE (Nexus of Water, Food, and Energy) program, including €104 million allocated through debt swaps. One of the program's milestones came in 2023 with a €54 million agreement to expand Egypt's electricity transmission network and connect two major Red Sea wind farms—Noes and Amunet, with a combined capacity of 500 MW—to the national grid. A second tranche under the NWFE platform, valued at €50 million, is currently in the works. The Egypt-Germany debt swap program is governed by a structured framework that ensures effective implementation and optimal use of funds. The Ministry of Planning plays a leading role in coordinating project selection, conducting negotiations with KfW, and managing the technical and financial components in collaboration with national stakeholders.
Egypt Independent
12-04-2025
- Business
- Egypt Independent
Petroleum minister probes with companies' officials future oil projects
Petroleum and Mineral Resources Minister Karim Badawi held a broad meeting on Friday 11/4/2025 with heads of authorities, holding companies, and sector firms to review recent developments in the petroleum sector from July 2024 to March 2025 and to set upcoming targets. Senior officials presented updates on current activities and future plans aimed at improving performance. Badawi announced that these meetings would now be held quarterly to promote knowledge exchange and integration across the sector. He highlighted six key pillars of the ministry's strategy, emphasizing that the top priority is increasing local production of natural gas and petroleum products to meet domestic demand and reduce import costs. Badawi noted that the sector has succeeded in offering attractive incentives to encourage international oil companies operating in Egypt to intensify exploration, adopt advanced technologies, and increase both production and reserves. Efforts are also underway to fully capitalize on the sector's underutilized infrastructure by processing crude oil from neighboring countries, expanding refining and petrochemical activities, and maximizing gas liquefaction and storage capacities, all contributing to added value and reinforcing Egypt's position as a regional energy hub, he added. The minister underlined the growing importance of the mining sector, with a goal to raise its contribution to GDP from 1 percent to 5–6 percent. 'The ministry is currently developing incentive mechanisms to attract global mining companies to operate in Egypt.' He also stressed the ongoing cooperation with the Ministry of Electricity and Renewable Energy to achieve Egypt's optimal energy mix, aiming to increase renewable energy's share to 42 percent by 2030. He praised the collaboration between Mopco and Scatec in the field of green hydrogen and ammonia. The minister emphasized the need to continue improving energy efficiency and using renewable sources at petroleum sites instead of traditional fuels. He cited Sukari gold mine's solar power project as a successful example. Regional cooperation and strategic partnerships remain a top priority, including plans to import Cypriot gas for local use or liquefaction and re-export, as well as ongoing collaboration with Saudi Arabia on energy efficiency, Badawi said. He noted that Egyptian companies have successfully implemented key strategic projects abroad and possess the capabilities and experience needed for further international expansion.
Daily News Egypt
19-03-2025
- Business
- Daily News Egypt
Egyptian Petroleum Minister attends Berlin Energy Transition Dialogue
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, participated in the eleventh Berlin Energy Transition Dialogue on March 18 and 19, the Ministry of Petroleum and Mineral Resources said in a statement. Badawy attended the Dialogue at the invitation of the German Foreign Minister and the German Minister for Economic Affairs and Climate Action. The forum focuses on discussing the evolving energy landscape and the transition to clean and renewable energy sources. This year's event centres on mobilising investments for energy transition and green growth in emerging and developing countries. During the Dialogue, Badawy presented Egypt's comprehensive energy strategy, emphasising the importance of diversifying energy sources to ensure energy security, sustainability, and economic growth. He also highlighted the role of natural gas as the most suitable transitional fuel, with lower emissions. Regarding the expansion of renewable energy, Badawy said that Egypt aims to strengthen its position as a regional energy hub, leveraging its abundant resources of solar, wind, and other clean energy sources. He noted the successful completion of an integrated and sustainable energy strategy until 2040, which aims to increase the proportion of renewable energy in the Egyptian energy mix to 42% by 2030. This will be achieved through projects such as solar energy developments and wind power plants in the Gulf of Suez region. Badawy added that the Ministry of Petroleum and Mineral Resources is working with the Ministry of Electricity and Renewable Energy to develop an integrated energy efficiency strategy and launch a national programme encompassing various energy efficiency activities. He further stated that Egypt aims to become a regional centre for hydrogen trade and circulation, underpinned by an ambitious national strategy to attract investment and develop pioneering projects in hydrogen generation and production. This strategy has been followed by the approval of a new law offering tax and export incentives to attract investors in this sector. Badawy also stressed the importance of regional and international cooperation in expanding clean energy projects and building sustainable partnerships for a more prosperous energy future. The Berlin Energy Transition Dialogue, first launched in 2015, is an annual conference on energy transition. It is organised by the German Federal Foreign Office in cooperation with the German Renewable Energy Federation (BEE), the German Solar Association (BSW), and the German Energy Agency (dena). The Dialogue is attended by government representatives, global business leaders, scientists, and leaders of international organisations and non-governmental organisations.
Egypt Today
11-03-2025
- Business
- Egypt Today
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.
Zawya
24-02-2025
- Business
- Zawya
Egypt signs agreement with AMEA Power for 1,500 MWh energy storage project
Arab Finance: Egypt has signed an agreement with the Emirati company AMEA Power to establish two independent energy storage stations with a total capacity of 1,500 megawatt-hours, the Egyptian Ministry of Electricity and Renewable Energy announced on February 23rd. The project aims to maximize the integration of renewable energy into the national grid and enhance its stability during peak hours. Under the deal, AMEA Power will build two battery storage stations, one in Benban with a capacity of 500 megawatt-hours and another in Zaafarana with a capacity of 1,000 megawatt-hours. The project also includes transformer stations and grid connections to support Egypt's renewable energy expansion. Minister of Electricity Mahmoud Esmat emphasized the importance of energy storage in optimizing the use of renewable sources and ensuring the stability of the electrical network. He noted that the selection of storage locations was coordinated with the New and Renewable Energy Authority (NREA) as part of a broader strategy to reduce fossil fuel consumption and carbon emissions. The minister highlighted the state's commitment to increasing the share of renewables in its energy mix, aligning with Egypt Vision 2030 and its National Energy Strategy, which targets reaching 42% renewable energy of the energy mix by 2030 and 65% by 2040. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
