Egypt’s Ministry of Electricity and Renewable Energy is negotiating for new renewable energy projects with a total capacity of 1,000 MW, Mohamed Shaker, Minister of Electricity, on Wednesday told Daily News Egypt.
Contracts of some of these projects, with a total capacity of 400 MW, are scheduled to be signed soon. In addition, an agreement to implement renewable energy stations with a capacity of 1,000 MW was signed on Saturday.
He stressed that the Electricity Ministry is intent on completing its plan to diversify energy resources and rely on renewable energy. It is expected that the construction of several solar power plants and wind farms will be completed by 2022, adding 2,400 MW to the national grid.
By the end of next year, the total renewable energy capacity in Egypt will be 6,378 MW compared to 5,878 MW now, the Minister said.
He added that the electricity ministry contracted at the lowest price of kw/h from solar energy in Egypt at a value of 2 and 3 cents for wind energy.
He said that the renewable energy sector in Egypt attracted international and Arab companies to invest in Egypt, where every month, there are numerous requests and offers to implement projects to produce electricity from renewable sources with different capacities.
He explained that the Egyptian government’s credibility was a major reason for attracting foreign investments, whether in the electricity or oil sector, especially since a joint strategy was developed between the electricity and oil sectors until 2035 to implement a mix of energy based on renewable energy to bring the total capacity generated from renewable energies on the network to 42% of the total energy generated.
He stressed that the government seeks to achieve sustainable development, develop the level of service for citizens, and open investment opportunities in various economic and social fields, and that sustainable development is linked to maximizing the use of energy.
The minister pointed out that the use of electric cars is a kind of transformation in the energy field, and the infrastructure will be developed to accommodate the state’s plan to expand electric cars.