In a recent meeting in Al Alamein City, Mahmoud Esmat, Egypt’s Minister of Electricity and Renewable Energy, and Guido Clary, head of the Cairo regional office of the European Investment Bank (EIB), explored new avenues for collaboration. Their discussions revolved around several crucial initiatives, including enhancing electrical connections with neighboring countries, setting up distribution network control centers, developing a unified grid, and pushing forward renewable energy projects.
Esmat praised the existing partnership between the Ministry of Electricity and the EIB, noting its significant contributions to Egypt’s electricity sector. He detailed the ministry’s strategies to tackle electricity shortages and power cuts through the expansion and improvement of distribution networks, enhancing overall efficiency, and broadening service offerings.
As part of Egypt’s broader strategy to diversify its energy sources, Esmat highlighted the goal of increasing the country’s renewable energy capacity to 45,000 megawatts. This includes ongoing projects and existing capacities, which currently feature 4.6 gigawatts from wind and solar energy, alongside 2,832 megawatts from hydroelectric power.
Esmat also emphasized Egypt’s dedication to utilizing its natural resources effectively. He spotlighted projects like the green energy corridor, designed to bolster electrical connectivity with Europe and provide support to African nations.
Guido Clary commended Egypt’s advancements in the electricity and renewable energy sectors. He expressed the EIB’s enthusiasm for further cooperation, particularly in expanding solar and wind energy initiatives. Clary stressed the importance of partnering with international financial institutions to support projects that are resilient to climate change and contribute to the green economy.