Egypt Aims for 42 Percent Renewable Energy by 2040

Egypt has ambitious plans to raise the share of renewable energy to over 42 percent by 2040. This was disclosed by Mahmoud Esmat, Egypt's Minister of Electricity and Renewable Energy, during the recent BRICS Energy Ministers Conference in Moscow.

He also revealed Egypt's plans to capture 5-8 percent of global green hydrogen trade by the same year. Esmat emphasised Egypt's commitment to sustainable energy transition, leveraging its abundant solar and wind resources. He outlined a comprehensive strategy to maximise the country's natural energy potential while aiming to significantly reduce carbon emissions.

“Our shared goals are essential to address the global energy landscape's challenges and opportunities,” Esmat stated, underscoring Egypt's efforts to balance economic growth with environmental responsibility.

He highlighted Egypt's focus on diversifying its energy mix, integrating renewable sources alongside nuclear energy, and improving energy efficiency to ensure a sustainable future. Key to this effort is Egypt's recent launch of its national hydrogen strategy, positioning the country as a future leader in green hydrogen production. Esmat also spoke about the establishment of the National Hydrogen Council and the introduction of new investment incentives aimed at attracting foreign capital to Egypt’s green hydrogen sector.

In his address, Esmat also stressed the importance of cooperation among BRICS nations, particularly in hydrogen transport and technology development. He mentioned Egypt’s ongoing collaboration with Russia on the El Dabaa nuclear power plant and with China in various energy sectors, including green hydrogen. Additionally, Egypt continues to partner with India on thermal power projects and hydrogen initiatives.

Esmat also highlighted Egypt's expanding regional energy cooperation, including connections to electrical grids with neighbouring countries like Jordan, Sudan, Libya, and soon Saudi Arabia, reflecting Egypt's growing role as an energy hub.