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Egypt to invest $83bln in renewable energy projects

Renewable energy to peak at 42% in 2030.

Egypt is planning to pump nearly $83 billion into solar energy and other renewables projects in the next few years as part of a push to expand renewable sources in its energy mix, according to a government report.

The projects are expected to raise the share of wind, solar and other renewable to nearly 42 percent in 2030, said the report published by the Egyptian Arabic language daily Addustour on Monday.

The report, dubbed “an economic strategy document” said the projects would materialise following the signing of several agreements with global companies for the construction of solar and wind power plants as well as green hydrogen projects.

In conventional electricity, the report noted that several projects planned or underway include interconnection projects with Saudi Arabia, Sudan, Greece and Italy, and in-country grid expansion.

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