Egypt has set ambitious goals to increase its share of renewable energy to over 42 percent by 2040. This announcement was made by Mahmoud Esmat, Egypt’s Minister of Electricity and Renewable Energy, during the recent BRICS Energy Ministers Conference in Moscow. He also outlined plans for Egypt to capture 5-8 percent of the global green hydrogen market by the same year.
Esmat emphasized the country’s commitment to a sustainable energy transition, capitalizing on its abundant solar and wind resources. He presented a comprehensive strategy to harness Egypt’s natural energy potential while significantly reducing carbon emissions. “Our shared goals are vital for addressing the challenges and opportunities in the global energy landscape,” Esmat said, highlighting Egypt’s efforts to balance economic growth with environmental stewardship.
As per the media report, the minister discussed the importance of diversifying the energy mix by integrating renewable sources alongside nuclear energy and enhancing energy efficiency for a sustainable future. A key aspect of this initiative is the launch of Egypt’s national hydrogen strategy, positioning the nation as a future leader in green hydrogen production.
Esmat also mentioned 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. He stressed the need for cooperation among BRICS nations, particularly in the areas of hydrogen transport and technology development.
Furthermore, he noted Egypt’s ongoing collaboration with Russia on the El Dabaa nuclear power plant and its partnerships with China in various energy sectors, including green hydrogen. Egypt is also working with India on thermal power projects and hydrogen initiatives.
Additionally, Esmat highlighted the country’s expanding regional energy cooperation, which includes electrical grid connections with neighboring countries like Jordan, Sudan, Libya, and soon Saudi Arabia, reflecting Egypt’s growing role as an energy hub, the media report further added.
