Abu dhabi: Egypt plans to invest EGP 136.3 billion in its electricity and renewable energy sector for the fiscal year (FY) 2025/26, according to a plan outlined by the Ministry of Planning, Economic Development and International Cooperation.
According to Emirates News Agency, the ministry stated that the total targeted investments represent a significant increase from the EGP 72.6 billion aimed for FY 2024/25 and the EGP 95.8 billion in actual investments recorded in FY 2023/24.
Minister of Planning and International Cooperation Rania Al-Mashat highlighted that the plan aims to enhance Egypt's energy capacity and increase its reliance on renewable sources. Key objectives include expanding electricity coverage to 99.8% of the population by the end of June 2026 and increasing electricity interconnection capacity to 3,900 megawatts to strengthen Egypt's position as a regional energy hub.
"The electricity and renewable energy sector is responsible for providing electrical energy to all users in various productive and consumer fields," Al-Mashat said. "This contributes to achieving sustainable development goals and continuously improving the level of services provided to citizens."
She emphasized that the sector's effectiveness depends on its ability to diversify energy sources, benefit from renewable resources, and rationalise the use of traditional resources to meet future energy demands.
The ministry's report indicates that public investments will constitute about 73% of the total EGP 136.3 billion planned for the sector in FY 2025/26, with private investments making up the remaining 27%.
The plan aims to increase the output of the electricity and renewable energy sector to EGP 655.6 billion, with a projected rise to EGP 984.5 billion by FY 2028/29. The sector's product is targeted to reach approximately EGP 285 billion in FY 2025/26 and grow to around EGP 430 billion by FY 2028/29.
Key quantitative targets for the plan year include increasing the average annual generated electrical energy to about 235 billion kWh, adding 1,200 megawatts of thermal generation capacity, and reducing electricity losses to 16.5%.