Egypt Aims for 42% Renewable Energy by 2040 and Global Green Hydrogen Market Share
Key Ideas
- Egypt's Electricity Minister announced plans to achieve 42% renewable energy and capture 5-8% of global green hydrogen trade by 2040.
- The country is leveraging solar and wind resources to reduce carbon emissions and balance economic growth with environmental responsibility.
- Egypt aims to diversify its energy mix, integrate renewables and nuclear energy, and enhance energy efficiency for a sustainable future.
- Cooperation with BRICS nations, particularly in hydrogen transport and technology development, is a key focus for Egypt's energy strategies.
During the BRICS Energy Ministers Conference in Moscow, Egypt's Electricity Minister Mahmoud Esmat unveiled the country's ambitious plans to significantly increase its use of renewable energy. By 2040, Egypt aims to achieve over 42% renewable energy and secure 5-8% of the global green hydrogen trade. Esmat highlighted the importance of sustainable energy transition, emphasizing the abundant solar and wind resources that Egypt possesses. The country intends to reduce carbon emissions by diversifying its energy mix, including renewable sources and nuclear energy, while also focusing on energy efficiency to ensure a sustainable future. Egypt recently launched its national hydrogen strategy to position itself as a leader in green hydrogen production, supported by the establishment of the National Hydrogen Council and new investment incentives to attract foreign capital. Esmat stressed the significance of cooperation with BRICS nations, particularly in the realm of hydrogen transport and technology development. Egypt's partnerships with countries like Russia, China, and India in various energy sectors, including green hydrogen initiatives, were highlighted. Furthermore, Egypt is expanding its regional energy cooperation by connecting electrical grids with neighboring countries, showcasing its growing role as an energy hub in the region.
Topics
Middle East
Renewable Energy
Energy Transition
Sustainable Development
Cooperation
Investment Incentives
National Strategy
BRICS
Energy Hub
Latest News