Here's How Much of Egypt's Power Comes Renewable Resources
With renewable energy, Egypt has been able to meet its ever-increasing energy demand, and drive sustainable economic growth to boot.
Egypt has recently hit its goal to base 20% of its energy on renewable resources, putting them on track to realise their Integrated Sustainable Energy Strategy and bring that number up to 45% by 2035.
Given that it’s the most populous country in MENA, Egypt has faced obstacles in maintaining a steady and continuous supply of energy. With renewable energy, Egypt has been able to meet its ever-increasing energy demand, and drive sustainable economic growth to boot.
Cognizant of this opportunity for growth, Egypt is implementing a series of major renewable energy projects which will ensure energy security, stability and sustainability. Currently, renewable resources generate 6,128 MW of Egypt’s energy, with about 50% of that energy generated by the private sector.
In 2020, Egypt became the first country in the Middle East and North Africa to issue green bonds. The proceeds of these bonds are currently financing 15 national eco-friendly projects. Egypt received its first green financing in November 2021 at a value of USD 1.5 billion; 46% of this was allocated for clean transportation, while 54% went towards sustainable management and desalination of water.
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Dec 03, 2023