Today in New Alamein City, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Eng. Mahmoud Esmat, and Chairman of the Board of Directors of Concord for Engineering and Contracting Eng. Ahmed Elabd.
Spokesman for the Presidency Ambassador Mohamed El-Shennawy stated that the meeting included a review of the latest developments in implementing the national strategy to expand renewable and new energy projects. The strategy aims to increase the share of renewable energy to 45% of total generated electricity by 2028, in line with the state’s policy of relying on new and renewable energy sources as part of the energy mix. This requires expanding the use of battery-based electricity storage technologies to secure the national grid and ensure the stability and continuity of electricity supply. In this context, Dr. Mahmoud Esmat noted that total investments in the electricity, new energy, and renewable energy sectors have reached approximately EGP 5 trillion since 2014.
The meeting also reviewed the role played by international partners in providing technical support and financing for renewable energy projects, contributing to strengthening Egypt’s position as a regional energy hub and a center for the manufacture of electrical equipment. In this regard, President El-Sisi stressed the need to support all types and models of partnerships, particularly those involving locally manufactured equipment, especially energy-storage batteries.
The president further emphasized the importance of supporting the localization of industries related to new and renewable energy, which constitute a fundamental pillar for strengthening energy security and advancing the green transition.
The Minister of Electricity presented the efforts being made in industries related to the electricity, new energy, and renewable energy sectors. In this context, President El-Sisi directed that local manufacturing be developed in the black sands industry, related value-added industries, fertilizers, and rare-earth elements.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
