President El-Sisi Meets Prime Minister, Ministers of Finance and Electricity

The Presidency

Egypt News

Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly; Minister of Electricity and Renewable Energy Eng. Mahmoud Esmat; and Minister of Finance Mr. Ahmed Kouchouk.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, stated that the President reviewed the executive status of a 200-megawatt wind power plant project in the Gulf of Suez region. The project contributes to achieving the target of increasing the share of renewable energy in the energy mix to 45% by 2028, instead of 42% by 2030.

In this regard, the Minister of Electricity and Renewable Energy noted that the Ministry had recently signed a contract to reinforce the national electricity grid by constructing a new 500 kV overhead transmission line to transmit wind-generated electricity from the Gulf of Suez to consumption areas across the republic. This comes as part of ongoing efforts to develop and strengthen the unified national electricity grid.

The meeting also reviewed efforts to enhance renewable energy electricity generation projects, expand battery energy storage system (BESS) projects, and support the necessary infrastructure, as well as strengthen international cooperation and partnerships in this field.

Eng. Mahmoud Esmat presented a number of projects involving electricity generation from new and renewable energy sources and battery energy storage systems. These included projects that have been completed, those currently under implementation, and those scheduled to become operational in the coming period.

In this regard, President El-Sisi emphasized the necessity of building a more diverse and sustainable energy mix aimed at enhancing energy security, reducing emissions, achieving optimal utilization of natural resources, and decreasing reliance on fossil fuels.

The meeting also reviewed the implementation status of green hydrogen projects and seawater desalination projects. These included the planned desalination complex in the El-Dabaa region, which aims to establish an integrated seawater desalination system relying on the latest technologies and specialized expertise. This is in addition to several other desalination projects conducted through existing power plants in cooperation with specialized international partners, with the goal of providing sustainable sources of desalinated water while localizing technologies and related industries.

President El-Sisi also followed up on the efforts made to develop local manufacturing in black sand industries and maximize their added value, given the considerable economic importance of these industries.

The President underscored the need to localize industries related to black sands and rare elements, and to work toward transforming Egypt’s natural resources into high-value industrial products rather than merely exploiting them in their raw form.

The Minister of Finance presented the latest economic and fiscal developments, along with efforts to address current global economic challenges. He also reviewed the status of cooperation with various international financial institutions, and efforts to reduce the debt of state budget entities.

President El-Sisi reaffirmed the vital importance of this issue and the need for all state institutions to work together to support and assist in implementing initiatives and plans to reduce the debt of state budget entities, thereby contributing to achieving the declared targets in this regard.

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