Prime Minister Mostafa Madbouly has announced that the Cabinet has approved two significant renewable energy projects involving direct foreign investment. These projects are a key part of Egypt’s strategy to bolster its renewable energy capacity.
The government aims to add over 4 gigawatts of renewable energy to the national grid next year, with a target of increasing this capacity to 28 gigawatts within the next five to seven years. These initiatives are critical to addressing the country’s ongoing energy challenges.
Prime Minister Madbouly shared this update during his weekly press conference following the Cabinet meeting.
He also highlighted two notable events in the energy sector this week. The first was the launch of Egypt’s first voluntary carbon market by the Financial Regulatory Authority, a significant step in promoting green energy. The second was the formal announcement of the national low-carbon hydrogen strategy, demonstrating the government’s strong commitment to advancing sustainable energy initiatives.
