Egypt supports renewable energy projects

    The Egyptian government recently signed an agreement with a Saudi renewable energy developer and plans to officially start the construction of the largest local Solar House System photovoltaic project in the second half of this year to help the economy grow green. It is understood that the Egyptian government has successively signed financing agreements with some countries and multilateral development agencies to meet the funding needs of renewable energy projects.

    In recent years, the Egyptian government has actively promoted the green growth strategy under the guidance of the "2030 Vision", and has increased its efforts to support projects in the fields of renewable energy, transportation, and wastewater treatment. The Egyptian government has approved 691 green projects in the latest budget, accounting for 30% of the total number of projects, with a total cost of approximately 447.3 billion Egyptian pounds (1 U.S. dollar equals 15.6 Egyptian pounds). It is planned to be in the next fiscal year. Investment in green projects doubled. Egypt’s Minister of International Cooperation, Masat, said: “Green growth is the key to economic recovery and will help create a more resilient economy and a more sustainable future.”

    According to the "Comprehensive Energy Strategy for 2035" issued by the Egyptian government, by 2022, 20% of Egypt's electricity supply will come from renewable energy sources, and this proportion will increase to 42% by 2035. "The green economy represented by clean energy is the future development direction of Egypt." The "Pyramid" article pointed out that Egypt is accelerating the development of renewable energy and promoting the transformation and upgrading of energy structure.

    Egypt officially implemented a car renewal plan this year, with the goal of converting 150,000 vehicles using traditional fuels to natural gas drives within three years. To this end, the government will allocate 20 billion U.S. dollars to build 366 natural gas filling stations nationwide. Yahya, who works for a travel agency in Egypt, is preparing to buy a second private car. According to relevant regulations, his new car must be equipped with a fuel and natural gas "dual fuel" system before it can be licensed. "Using natural gas can reduce pollution and emissions, realize green travel, and have more advantages in price." Ye Haiya agrees with the government's policies.

    The Egyptian government also vigorously develops urban transportation and promotes green travel. In August this year, the 10th Ramadan suburban railway project with an investment of USD 739 million will enter the trial operation stage and will be officially put into use in October. This light rail line connecting the city of Cairo, the new administrative capital and the 10th Ramadan City will become the first electrified light rail line in Egypt. It is expected to save the government about 2.3 billion Egyptian pounds in fuel subsidies each year, which will effectively alleviate the traffic pressure in Cairo. Facilitate the adjustment and upgrading of urban functions and spatial structure.

    Hassan Rabib, a professor of economics at Helwan University in Egypt, told our reporter that Egypt has incorporated green leadership and environmental friendliness into important strategic considerations, and the prospects for green growth are promising. "How to coordinate the relationship between policy and implementation, long-term interests and short-term interests is the key to breaking the bottleneck of green growth."