Dr. Mahmoud Esmat confirmed, Minister of Electricity And renewable energy, the importance of the partnership between the Ministry and the International Finance Corporation (IFC) in promoting electricity and renewable energy projects in Egypt, with a focus on supporting the private sector and localizing modern technology, during a meeting with the IFC delegation headed by Sheikh Omar Sylla, Regional Director for North Africa and the Horn of Africa, at the Ministry’s headquarters in the new capital.
The Minister explained that the meeting discussed several files related to the renewable energy projects that will be presented, and the technical and financial consultations necessary to support the implementation of these projects, in addition to strategies for developing the energy mix and increasing reliance on renewable energy sources, which contributes to enhancing the sustainability of the electricity sector and achieving sustainable development goals.
Dr. Esmat pointed out the need to maximize the private sector’s participation in the production and distribution of electricity, and to use modern technology to support the stability of the network, ensure continuity of nutrition, and improve the quality of services provided to subscribers. He also stressed that the private sector is a key partner in diversifying sources of electricity generation, supporting and developing the national electricity grid, while benefiting from similar international experiences in reducing losses in distribution networks and improving energy efficiency.
The Minister touched on the Ministry’s plan for the financial sustainability of the electricity sector, reviewing the potential structure of this plan, and examples from global experiences, pointing to the loss reduction programs currently being implemented in North and South Cairo companies and the Canal Electricity Distribution Company. He stressed the importance of benefiting from the financial and technical capabilities of the private sector in implementing these programs and achieving the state’s goals in the field of clean energy.
The Minister stressed that the Ministry of Electricity is paying great attention to maximizing returns from renewable energy projects and expanding energy storage systems, with the aim of reaching the percentage of renewable energy participation in the energy mix to more than 42% by 2030, and continuing efforts to reach more than 65% by 2040, which contributes to reducing traditional fuel consumption and reducing carbon emissions.
Dr. Esmat added that the Ministry continues to take all necessary measures to secure permanent, clean, low-cost energy sources, through developing power plants and transmission and distribution networks, and using modern technology to improve the stability of the electrical current and continuity of nutrition. He also stressed the Ministry’s keenness to enhance cooperation with the private sector in all fields of electricity and renewable energy, ensuring the provision of high-quality services to subscribers and achieving sustainable development goals in accordance with the state’s comprehensive plan.
