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How can Egypt store electricity?

Egypt has been looking at a number of ways to store electricity as part of its ambitions to grow renewable energy capacity to cover 42% of the country’s electricity needs by 2030. These include upgrading its power grid and incorporating pumped-storage hydroelectricity stations to help store electricity for future use.

Will EGP 2 trillion be needed in Egypt's energy sector?

The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030. Egypt is expected to overtake South Africa in the next decade to become the largest electricity market in Africa.

Is Egypt facing a crisis in its electricity sector?

Speaking before the House of Representatives in February 2021, Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker said Egypt faced a significant crisis in its electricity sector in 2014, but the authorities implemented several projects to improve service.

How much FDI is needed in Egypt's energy sector?

FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by real estate, manufacturing, financial services and construction. The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030.

How does Egypt use imported gas?

Egypt plans to use imported gas for domestic use and re-export to global markets through its liquified natural gas (LNG) facilities on the Mediterranean coast. In December 2017, Egypt’s Zohr gas field started production. The Zohr field is considered the largest discovery ever made in the Mediterranean Sea.

Can Egypt export green energy?

Egypt could theoretically export green hydrogen and green electricity one year, and natural gas the following year. Such a tactical approach was evident over the last two years, when the glut in gas-fueled generation capacity contributed to a slowdown in renewable energy projects.