Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, has said that the country is shifting its energy sector from gas to renewable sources, such as wind and solar, to take advantage of its strategic location for accessing global markets and exporting green products. He said that the energy axis of the “NWFE” programme, in collaboration with development partners, aims to reduce greenhouse gas emissions by 17 million tonnes of carbon dioxide annually. He added that the electricity sector has made significant progress in attracting renewable energy investments as part of a plan to involve the private sector in increasing renewable energy capacity by about 10 gigawatts. He also said that the necessary financing has been secured by development partners within the energy axis to implement these projects, and financial closure agreements have been signed. He pointed out that the NWFE programme’s energy axis includes shutting down 5-gigawatt thermal power stations, and by the first quarter of 2024, 1-gigawatt power stations will be shut down.
