Egypt ramps up renewable energy investment with 45% target by 2028

Egypt is targeting renewable energy to account for 45% of its electricity generation by 2028 as it steps up investment in clean energy, battery storage and domestic manufacturing.

President Abdel Fattah Al-Sisi reviewed progress on the national strategy to expand renewable energy projects during a meeting in New Alamein with Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mahmoud Esmat, and Ahmed El-Abd, Chairperson of Concord Engineering and Contracting.

Presidential Spokesperson Mohamed El-Shennawy said the strategy aims to increase the share of renewables in Egypt’s electricity mix while expanding battery energy storage systems to improve grid stability and support a reliable power supply.

Esmat said that investments in Egypt’s electricity and renewable energy sector have reached approximately $99.6 billion (EGP 5 trillion) since 2014, reflecting the scale of investment directed towards expanding and modernizing the country’s energy infrastructure.

The meeting also reviewed cooperation with international partners providing technical and financial support for renewable energy projects, as Egypt seeks to strengthen its position as a regional energy hub while developing domestic manufacturing capabilities for electrical equipment.

Al-Sisi called for expanding partnership models that increase the use of locally manufactured components, including battery energy storage systems. He also stressed the need to localize industries linked to renewable energy to strengthen energy security, increase domestic value-added and support the country’s transition towards a greener economy.

The president also directed the government to expand domestic manufacturing and value-added industries linked to black sands, fertilizers and rare-earth elements, as part of broader efforts to maximize the economic value of Egypt’s natural resources.