According to Egypt’s petroleum minister, new renewable energy initiatives will make it possible for the nation to move forward with its goals of becoming a significant supplier of electricity and hydrogen to Europe.
Egypt plans to use a cable that will cross the Mediterranean to transmit electricity to Cyprus and Greece. Additionally, it seeks to export hydrogen, a fuel for power plants.
An $11 billion wind farm in Egypt is being built by a consortium led by the renewable energy company Masdar, based in Abu Dhabi. It is planned to generate 10 gigawatts of power, or around one-fifth of what the UK currently uses.
The power generated by the plant will be used locally and contribute to the country’s objectives of having about 40% of its energy mix come from renewable sources by 2030. This objective was most recently moved up from 2035 by Egypt.
Other plans include investing in carbon-capture equipment and putting a stop to flaring at the two liquefied natural gas export terminals in the nation.
The nation wants to serve as a Mediterranean shipping hub for LNG. According to him, it wants to enhance Israeli deliveries of the extremely cold gas to its ports.
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