Egypt has set an ambitious target [1] to produce nearly 16,100 megawatts (MW) from renewable energy sources by 2029, as part of its drive to reduce reliance on conventional power generation and save its hydrocarbon resources. This target includes 6,600 MW currently produced from solar, wind, and water projects, with new projects expected to boost output significantly.
Most of the increase will come from solar power projects, which are projected to add around 5,800 MW. Egypt aims to expand its share of renewable energy to 42% by 2030 and 60% by 2040.
The Egyptian government has implemented various incentives to promote investment in renewable energy, including tax exemptions and customs duty exemptions. These measures are part of Egypt’s broader Vision 2030 plan, which seeks to transform the nation through renewable energy and make the economy more balanced, competitive, and diverse.
Egypt’s strategic initiatives include partnerships with international companies such as Siemens and Vestas for large-scale wind turbine installations and collaborations with China for solar energy projects. The country is also home to notable solar parks like the Banban Solar Park in Aswan, one of the world’s largest solar parks.
The transition to renewable energy is expected to provide significant socio-economic benefits, including job creation and reduced carbon emissions. Egypt’s commitment to renewable energy aligns with global climate and sustainable development objectives, positioning the country as a leader in the MENA region’s shift to cleaner energy sources.
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[1] Egypt targets 16GW renewable energy in 2029 https://www.zawya.com/en/projects/utilities/egypt-targets-16gw-renewable-energy-in-2029-xcc5paog