Egypt: Renewable energy to supply 42% of energy mix by 2040

Egypt’s ambitious goals to have renewable energy accounting for over 42% of Egypt’s energy mix by 2040 were outlined during the BRICS Energy Ministers Conference held in Moscow this week.

In an address before the conference, Minister of Electricity and Renewable Energy, Mahmoud Esmat, said Egypt also targets to capture 5-8% of the global green hydrogen market by the same year.

The official emphasized Egypt’s commitment to transitioning towards sustainable energy, leveraging its rich solar and wind resources. He also announced the launch of the national hydrogen strategy, including the formation of the National Hydrogen Council and the introduction of new legislation to incentivize green hydrogen investments.

Esmat noted that Egypt’s strategy focuses on efficiently managing its natural resources while reducing carbon emissions and promoting green energy.

South Africa’s Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, on his part urged BRICS Plus countries to collaborate on overcoming energy challenges. He stressed the importance of ensuring energy transitions safeguard energy sovereignty, support sustainable economic growth, and promote universal energy access, while addressing environmental concerns. Ramokgopa also highlighted the recent expansion of the BRICS bloc, calling it a clear indication of the group’s growing influence in the global energy landscape.