- Egypt’s renewable energy target of 42% by 2030 faces risks without increased international support, according to Prime Minister Madbouly at COP29.
- Solar, wind, and hydropower currently account for just 11.5% of Egypt’s electricity generation, with the country still heavily reliant on natural gas.
- Madbouly urged developed nations to honour climate finance commitments, warning that promises from developing countries would remain ineffective without this support.
Prime Minister Mostafa Madbouly warned at COP29 that Egypt’s renewable energy target of 42% by 2030 faces significant risks. He stressed that the country may not meet its goal without more international support.
According to a July cabinet report, solar, wind, and hydropower account for only 11.5% of Egypt’s electricity generation. The country has long depended on natural gas, which it defended as a “transitional fuel” at COP27 in 2022. Once a net gas exporter, Egypt has increasingly relied on natural gas in recent years.
However, in 2023, Egypt experienced power outages due to financial constraints and declining domestic gas production. This situation highlighted the risks of over-relying on fossil fuels. In response, the government sought foreign investment to boost renewable energy projects while increasing efforts to explore more fossil fuels.
In 2023, Egypt set a goal to achieve 42% renewable energy in its electricity generation by 2030. Mohamed Shaker, the former Minister of Electricity, presented a plan in June 2024 to raise the share to 58% by 2040. However, Egypt’s petroleum ministry revised this target shortly after, lowering the renewable share to 40% by 2040, leaving the country heavily reliant on natural gas.
At COP29, Prime Minister Madbouly reaffirmed the country’s 2030 renewable target but expressed concern about its feasibility without sufficient international backing. He said, “Without the necessary backing, critical infrastructure improvements remain out of reach, placing our target at serious risk.”
Madbouly called on developed nations to fulfil their climate finance pledges, urging that without this support, developing countries’ promises would remain “ink on paper.”
Egypt’s challenge is clear. While the country has set ambitious renewable energy targets, its dependence on natural gas remains significant. Egypt’s push for a greener energy future depends on securing international investments and financial support.