The Egyptian government has taken an important step towards enhancing reliance on renewable energy sources, by opening the door for applications for the private sector to participate in huge projects to produce electricity from renewable energy sources.

According to an official statement issued by the Ministry of Electricity and Renewable Energy, Egypt has begun receiving applications from companies wishing to participate in these projects, starting today, Sunday, for a period of three months.

This initiative comes in line with Egypt's ambitious strategy to increase the share of renewable energy in electricity generation, in line with its international commitments to achieving sustainable development goals.

The first phase of the initiative aims to establish five huge projects to produce electricity from renewable energy sources with a total capacity of 500 megawatts.

This initiative allows companies that produce electricity from renewable sources to use the Egyptian Electricity Transmission Company’s network to sell it to new consumers.

This is a golden opportunity for the private sector to participate in vital projects with lucrative returns that contribute to achieving sustainable development goals in Egypt.

It is expected that this initiative will contribute to significantly reducing carbon emissions. This will enhance Egypt’s efforts to combat climate change, and will also help enhance energy security in Egypt by reducing dependence on fossil fuels.

This initiative will also contribute to stimulating economic growth and providing new job opportunities for Egyptian youth. It will also strengthen Egypt’s position as a leader in the field of renewable energy in the region and the world.