Prime Minister Moustafa Madbouli reaffirmed Egypt’s commitment to expanding renewable energy projects and increasing their contribution to the national energy mix as part of the country’s broader strategy to transition towards a green economy and achieve sustainable development.
His remarks came during a function on Sunday in which he witnessed the signing of a protocol agreement to provide LE60 billion in financing for projects aimed at strengthening and upgrading the national electricity grid, enabling it to accommodate additional renewable energy capacities.
Madbouli stressed that the government would continue implementing projects to modernise the national electricity grid, including transmission, distribution, and evacuation networks, to ensure readiness for the planned expansion of solar and wind energy projects.
The protocol was signed by Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Finance Ahmed Kouchouk, and Minister of Planning and Economic Development Ahmed Rostom. The funding is allocated to support the Egyptian Electricity Transmission Company (EETC), enhancing its financial and operational capabilities and enabling it to meet the increasing requirements of the country’s energy transition.
For his part, Electricity Minister Mahmoud Esmat stated that modernising the national electricity grid is a continuous and evolving process aimed at increasing its ability to absorb new renewable energy generation capacities while addressing growing electricity demand, rising consumption rates, and higher loads.
He highlighted the strategic importance of grid development projects in ensuring the sustainability, reliability, and stability of electricity supplies, improving service quality, and accelerating the integration of solar and wind power projects.
Esmat also referred to ongoing efforts to compress project implementation timelines to achieve the government’s target of raising the share of renewable energy in the electricity mix to 45% by 2028.
He reaffirmed the ministry’s commitment to securing reliable electricity supplies for all sectors, particularly major national development projects, which represent a key pillar of Egypt’s reconstruction and economic development efforts.
Meanwhile, Finance Minister Ahmed Kouchouk said the government remains committed to supporting the transition towards renewable energy, including through continued investment in electricity grid infrastructure, in a way that guarantees sustainable electricity supplies for citizens and investors.
Minister of Planning and Economic Development Ahmed Rostom described the protocol as a model of integration between the state’s fiscal and investment policies. he affirmed that the LE60 billion allocated to support the electricity transmission network represents a direct strategic investment in critical infrastructure and national projects that will help attract both domestic and foreign investment while empowering the private sector as a key partner in the development process.
