Mohamed Shaker, Minister of Electricity and Renewable Energy, has said that the Dabaa nuclear plant project, with a capacity of 4,800 megawatts, progresses according to its schedule, and it is expected to be completed between 2028 and 2031.
The minister said that over the past nine years, the electricity sector witnessed an unprecedented boom with the support of President Abdel Fattah Al-Sisi. A large number of new stations are now operating. In addition, a number of existing stations were developed, and an additional 29,000 megawatts were added to the network, bringing the total to 56,000. megawatts.
Shaker added that there are currently six renewable energy projects under construction, representing direct foreign investment worth $4.4bn to generate 2,500 megawatts.
The minister explained that the total installed capacity of renewable energy will reach about 10,000 megawatts by 2025.
He pointed out that the new projects in renewable energy contribute to enhancing the chances of exporting electricity to Europe, Asia and Africa. He explained that work is underway for the national strategy for green hydrogen.
He stressed that Egypt has great capabilities that enable it to produce green hydrogen, which is the least expensive in the world. Shaker also explained that increasing the hydrogen produced locally helps reinforce energy security in Egypt and reduce its oil imports.
Shaker indicated that 23 memorandums of understanding (MoUs) were signed with international companies to produce green hydrogen, with investments exceeding $83bn, and a total capacity that exceeds 101 gigawatts.
Egypt has become a pivotal hub for electrical interconnection. The electrical interconnection project between Egypt and Saudi Arabia is being implemented to facilitate energy exchange between the two countries, at a cost of $1.8bn. Moreover, an increase in the interconnection capacity with Sudan and Libya, as well as the capacity of the electrical interconnection line between Egypt and Jordan are discussed. In addition, several joint meetings are held to discuss electrical interconnection with Greece, and interconnection with Europe via Italy.
Regarding the energy strategy, the minister said that it aims to achieve a balance between renewable and traditional energy sources, promote environmental sustainability and transition towards an environment-friendly economy, with an electric capacity mix of more than 42%.
The minister emphasized increasing reliance on renewable energy, whether solar or wind, and raising its capabilities. He talked about ongoing projects to increase production capacities and target 10,000 megawatts of renewable energy by 2025. He also touched on investment mechanisms in renewable energy in Egypt and the feed-in tariff, referring to the development of the electric transmission network and covering the entire republic.