Planning Min.: Egypt Aims to Become Green Energy Hub

Egypt aims to become a green energy hub. This target requires significant investment from the private sector.

A report by the Ministry of Planning and Economic Development pointed to the role of the Sovereign Fund (SF) in this regard.

The SF is working hard to mobilize private sector investments in the areas of renewable energy, green hydrogen, green ammonia and water desalination.

The report also indicated that Egypt continues to benefit from many policy tools to help attract private sector capital towards climate opportunities, in particular by expanding the list of companies eligible for tax benefits under the investment law.

The report pointed out that the Egyptian government has taken a number of innovative policies that have been put into practice in this regard through a participatory approach, which helps in creating an environment conducive to climate action, including the issuance of the "Environmental Sustainability Standards" guide, which aims to represent

The percentage of green projects is 40% of the total public investments in the 2022/2023 plan, and it is targeted to increase this percentage to 50% during 2024-2025.