Egypt mainly depends, in all its energy-related activities, on three major sources: oil, natural gas and the hydroelectric power generated from the large dam projects over the Nile: the High Dam, Aswan I & Aswan II dams.
The country targets to generate 20 percent renewables in electricity generation by 2022 and to reach 42 percent by 2035.
In addition, it has the potential to generate up to 53 percent of its electricity from renewable sources by 2030, according to a report by the International Renewable Energy Agency (IRENA).
The Egypt Renewable Energy Outlook report, released earlier, showed that pursuing higher shares of renewable energy could reduce the country’s energy bill by up to $900 million annually in 2030.
Aiming to reach these percentages, the state is taking some steps and attracting investments and partnerships in renewable energy, which in return, helps in energy transition in the country, as the world’s total renewable-based power capacity is expected to increase 50 percent between 2019 and 2024. In response to this shift, utilities have begun a rapid energy transition away from coal.
To clarify, energy transition refers to the global energy sector’s shift from fossil-based systems of energy production and consumption — including oil, natural gas and coal — to renewable energy sources like the wind and sun as well as lithium-ion batteries.