In a recent meeting held in Al Alamein City, Mahmoud Esmat, Egypt’s Minister of Electricity and Renewable Energy, engaged with Guido Clary, the head of the Cairo regional office of the European Investment Bank (EIB), to explore new opportunities for collaboration. The discussions focused on several key areas including strengthening electrical connections with neighboring countries, establishing distribution network control centers, developing a unified grid, and advancing renewable energy projects.
Esmat commended the ongoing partnership between the Ministry of Electricity and the EIB, highlighting its positive impact on Egypt’s electricity sector. He outlined the ministry’s plans to address electricity shortages and power cuts through the development of distribution networks, improved efficiency, and expanded service offerings.
As part of Egypt’s strategy to diversify its energy sources, Esmat emphasized the importance of increasing the share of renewable energy. He revealed that Egypt aims to boost its renewable energy capacity to 45,000 megawatts from current projects under construction, while the country’s existing capacities include 4.6 gigawatts from wind and solar energy and 2,832 megawatts from hydroelectric power.
The minister also highlighted Egypt’s commitment to leveraging its natural resources and advancing projects such as the green energy corridor, which seeks to enhance electrical connectivity with Europe and support African nations.
Guido Clary praised Egypt’s expertise in the electricity and renewable energy sectors and emphasized the EIB’s interest in expanding cooperation, particularly in boosting solar and wind energy projects. Clary underscored the importance of working with international financial institutions to support climate-resilient projects and advance the green economy.
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