Egypt: The Supreme Committee of the National Climate Change chaired by Mostafa Madbouly, Prime Minister, has announced Egypt has completed the second update of the updated National Contributions Plan “NDCs” regarding the renewable energy ratio in the energy mix. The update was shared in the coordination framework between the two Environment, Electricity and Renewable Energy ministries.
In this context, the Minister of Environment, Yasmin Fouad, said, “We are aiming to reach 42% of new and renewable energy in the mix by 2030 instead of 2035. The project aims at increasing the rate of emissions reduction in the electricity sector to 80 million tons of CO2 reward compared to the baseline in 2030.”
Minister Yasmin Fouad added that the council had approved the recommendations made by the Ministry of the Environment through a detailed report on the “update of the National Contributions Plan” to have the ratio of new and renewable energies in the power mix of the electricity sector 42% by 2030.
She stated that following the success of the ministries: Foreign Affairs, Environment and International Cooperation in negotiations with the US, German side and several other European countries ahead of the COP27 climate conference, the nation seeks to obtain easy grants and funding for €500 million as a contribution to the energy hub of the Novi program.
Meanwhile, the meeting also discussed that “Within the framework of the update of the specified National Contribution Plan, through a plan to develop the network; to absorb 10 gigawatts of new energy And the Renewed, a sign that $10 billion is expected to be raised from the private sector to implement the plan.”
The Minister of the Environment reviewed, during the meeting, the details of the report, which is a step that contributes to opening up the sector for facilitated development funding and mobilizing various financing mechanisms from development partners, either at the bilateral or multilateral level.
As per the reports, the update aimed at modifying the emissions scenario to reach 42% of new energy generated and renewables in the energy mix by 2030 instead of 2035. The update also aims to increase the emission reduction rate in the electricity generation, transportation and distribution sector to 80 million tons equivalent to CO2 instead of 70 million tons, compared to 2030.
The reports mentioned that this reduction should favour implementing commitments “Contribution Plan” Renewed Patriotism” by increasing the size of those powers and reducing the number of stations that use fossil fuels.
During the meeting of the National Council of Change the Climate, several officials were present, including Dr Mohamed Shaker, Minister of Electricity and Renewable Energy; Dr Hala Al-Said, Minister of Planning and Economic Development; Dr Rania Al-Mishat, Minister of International Cooperation.
Dr Mohamed Moit, Minister of Finance; Dr Yasmin Fouad, Minister of Environment. Mr., Mr Qaseer, Minister of Agriculture and Land Rehabilitation; Major / Hisham Amana, Minister of Local Development; and Ambassador / Muhammad Nasr, The director of the Department of Climate Change, Environment and Sustainable Development of the Ministry of Foreign Affairs, ministry officials and stakeholders also attended the meeting.
