Prime Minister Mostafa Madbouly confirmed that Egypt has made significant progress in renewable energy, which currently accounts for about 22% of total energy thanks to hydro, solar, and wind sources. The target for reliance on renewable energy has been revised to reach 42% before 2030, following directives from President El-Sisi, with the aim of reducing the use of natural gas for electricity and redirecting it towards industry and exports.
He pointed out that ensuring energy sustainability encourages industrial investments, which pushed the state to accelerate clean energy projects while increasing the productivity of Egypt’s gas and oil fields. It was also announced that foreign partners’ debts have been reduced by half, with plans to settle them soon, contributing to new discoveries and lowering the import bill.
Madbouly explained that Egypt has secured its gas and energy needs for the next five years, relying on regasification ships and increased field production, with a plan to soon restore high production rates.
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