According to a government report, Egypt is gearing up to invest approximately $83 billion in solar energy and other renewable projects in the coming years as it actively seeks to enhance the presence of renewable sources within its energy portfolio.
The projects are expected to raise the share of wind, solar, and other renewables to nearly 42 percent in 2030, according to the report published by the Egyptian Arabic language daily Addustour on Monday.
The report, dubbed “an economic strategy document,” said the projects would materialise following the signing of several agreements with global companies for the construction of solar and wind power plants as well as green hydrogen projects.
The report highlighted that, in traditional electricity generation, various projects are in the planning or implementation stages. These projects involve establishing interconnections with Saudi Arabia, Sudan, Greece, and Italy, as well as expanding the domestic grid infrastructure.
