What is Egypt's energy strategy?

The energy strategy in Egypt adopted by the Supreme Council of Energy in February 2008 is to increase renewable energy generation up to 20% of the total mix by 2020. The majority of Egypt's electricity supply is generated from thermal and hydropower stations.

Is Egypt a good source of energy?

Egypt is among the largest energy producers and suppliers in Africa. In fact, it is one of the most populated countries on the African continent, which lead to its energy needs increasing. Moreover, the whole Egyptian population had access to a reliable energy sources since 2015.

Will EGP 2 trillion be needed in Egypt's energy sector?

The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030. Egypt is expected to overtake South Africa in the next decade to become the largest electricity market in Africa.

How much money did Egypt invest in solar power in 2024?

In 2024, Egypt embarked on a major renewable energy initiative by announcing the construction of two solar power stations with a total investment of 1 billion Egyptian pounds ($20.60 million), funded by a European Union grant.

What is Egypt's national oil company?

The National oil company is the Egyptian General Petroleum Corporation. Egypt is estimated to hold 12,446 million barrels (1,980 million cubic metres) initial recoverable liquid reserves.

Is Egypt facing a crisis in its electricity sector?

Speaking before the House of Representatives in February 2021, Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker said Egypt faced a significant crisis in its electricity sector in 2014, but the authorities implemented several projects to improve service.