With COP27 less than 10 weeks away, RES4Africa gathers a high-level pre-Cop public-private dialogue on accelerating Egypt’s clean energy transition. The conference, sponsored by BonelliErede and organised in collaboration the Regional Center for Renewable Energy and Energy Efficiency (RCREEE), provided a structured public-private discussion, focussed on energy regulations, the role of the private sector in RE finance, innovation for clean technologies, and RE infrastructure.
Cairo, 7th of September 2022 - After four years, RES4Africa Foundation returns to Egypt with the pre-COP27 conference Accelerating Egypt’s Clean Energy Transition: Enabling Policies, Investments, and Technologies, sponsored by BonelliErede and co-organised with the Regional Center for Renewable Energy and Energy Efficiency (RCREEE). The event gathered key national and international energy decision makers including the Ministry of Electricity and Renewable Energy of Egypt, the Sovereign Fund of Egypt, the European Union Delegation to Egypt, the National Renewable Energy Authority (NREA), the United Nations Economic Commission for Africa (UNECA), EgyptERA, Elsewedy Electric, the International Finance Corporation (IFC), the Italian Embassy in Cairo and RES4Africa members, featuring a public-private discussion on relevant topics related to Egypt's energy transition.
Host of the COP27 in two months, Egypt is taking important steps in defining a diversified clean energy transition strategy based on renewable energy, energy efficiency, market reforms, and new sustainable technologies such as green hydrogen. As an economic leader on the continent, Egypt is positioning itself as a regional and continental energy hub, raising its ambitions in terms of green energy deployment and emissions reduction: since the adoption of the Integrated Sustainable Energy Strategy (ISES) in 2015, Egypt has been pursuing to reach its bold RE targets at 42% of the total energy mix by 2035.
The event, built on a well-established collaboration with Egyptian partners and stakeholders, comprised four thematic discussions related to Egypt's just energy transition. Discussions focussed respectively on the energy regulatory framework and desirable advancements, the role of DFIs and the private sector in RE finance, clean technologies, and grid infrastructure.
"The time for this event was just right" commented Roberto Vigotti, RES4Africa Secretary General "Egypt is virtuously riding the wave of renewable energy, deploying unprecedented actions on its territory, demonstrating the willingness and the resources to join the global effort for sustainability and welcoming private investments for the clean energy transition. Yesterday's gathering confirmed such an agenda, and reinforced our joint efforts to achieve it".
“Each country has its context and specificities”added Dr. Jauad El Kharraz, Regional Center for Renewable Energy and Energy Efficiency Executive director “There is no one size fits all model, taking into consideration not only the local context but also learning from other experiences, therefore policies should be more ambitious. Public-Private partnerships are increasing in their frequency and efforts to accelerate the energy transition. We need to innovate in the techniques as to foster a conducive environment.”
“Egypt is taking the right steps to transition to a sustainable, resilient energy system, affirming itself as a regional energy hub in North Africa" commented Riccardo Bicciato, BonelliErede Cairo-based partner "Yesterday’s event was an important opportunity to make this clear. The country has embarked on an ambitious journey towards a more sustainable approach, and is taking significant steps in defining a diversified clean energy plan that includes green hydrogen.”
“A global transformation in the field of green energy has become a reality, providing unlimited opportunities for cooperation between countries, especially in Egypt. Egypt is setting its ambitions to take advantage of all RE sources and market tools that allow for private sector participation, including in various low-carbon energy technologies such as renewable energy generation capacity, e-mobility, desalination, storage, grids, transmission and green hydrogen"stated Dr. Ahmed Mohamed Mohina, First Undersecretary of the Ministry of Electricity and Renewable Energy in Egypt “COP27 will represent a platform for Africa’s clean energy transition and to develop a new model of cooperation to achieve universal access to energy by 2030 and Agenda 2063 “.
Dr. Ahmed El Beltagui, European commission Climate, Energy and Transport Sector Manager concluded “The EU aims to create stability and prosperity for the people. For that we need economic ans social dynamism. Renewable energy is a clear winner when it comes to boosting the economy and creating jobs. We support RES4Africa's role of building bridges on renewable energy in Egypt”.