The Green Economy tops Egypt's projects
The Egyptian government aims to implement new projects worth USD14.7 billion. And the Ministry of Planning and Economic Development seeks to ensure that 50 per cent of these projects in 2024/2025 are green projects. Ahmad Abdel-Rahman explains.
Egypt has begun to transform into a green economy. The Ministry of Planning believes this is one of the most important tools available for achieving sustainable development because it improves well-being and social equity, while at the same time reducing environmental risks.
Egypt has used several financing mechanisms, including blended financing, green bonds, results-based financing, and financing from the Egyptian Sovereign Fund, to make this transition possible.
The most important green projects in Egypt are seawater desalination plants, waste treatment plants, modern irrigation systems, rehabilitation (lining) of canals, a coastal protection project, a subway network, a railway network and electric lines, wind power plants, and solar power plants.
The Ministry of Planning and Economic Development (MPED) confirmed in a report that the investment plan aims to reach 50 percent of green projects by the end of 2024/2025. The total cost and targeted investments to support the green economy in Egypt amount to about USD14.7 billion (EGP453 billion).
Projects in the electricity and renewable energy sector
Targeted projects in the electricity and renewable energy sector 2024/25 include the following:
-replacing overhead lines with 400 km of underground cables;
-transferring and diverting the electrical network that conflicts with the national road development project, with a total length of 100 Km
-completion of the construction of the medium voltage electrical network and the construction of the Dabaa power line;
- completion of the 250 MW wind energy power plant project in the Gulf of Suez;
- completion of the project to establish a power plant in Hurghada (20 megawatts) and in Zaafarana with a capacity of 50 megawatts;
-completion of the preparation of land allocated for solar energy projects in the regions of East and West Nile, Kom Ombo and West Sohag.
Climate change projects
The most important projects to mitigate the effects of climate change are as follows:
- the high-speed electric train, the metro project, the monorail of the Administrative Capital and the 6th of October City, the sustainable management of organic pollutant;.
- a power station using photovoltaic cell systems in Hurghada, wind energy power stations;
- Creation of a solid waste system, and establishment and development of automated slaughterhouses;
-East Matrouh desalination plant project (Rumaila 4) with a capacity of 130/65 thousand m3/day;
-a seawater desalination plant in Sharm El-Sheikh with a capacity of 30,000 m3/day;
- expansion of the triple treatment plant, Arab Abu Saed, with a capacity of 250,000 m3/day;
- the triple treatment plant, Marsa Matrouh, with a capacity of 30/60 thousand m3/day.
Increasing renewable energy to 42 per cent by 2035
The initiatives proposed in the plan aim to raise the percentage of renewable energy to 22 per cent of the total energy used in 2023-2023, then to 25 per cent in 2024-2025, and to about 42 per cent in 2035 through the expansion of solar energy projects and wind farms to generate electricity. This is in addition to encouraging projects that convert waste into energy. With regard to the agricultural sector, the initiatives proposed in the plan include expanding organic farming, rationalising the use of chemical and pesticides, as well as expanding automated slaughterhouses to raise the efficiency of veterinary units. Moreover, the expansion of the cultivation of crops that are resistant to drought, humidity and salinity and use little water, with an orientation to modern agricultural techniques and the development of new kinds of crops.
Renewable energy projects
The most important renewable energy projects are as follows:
-the Bonyan solar energy complex, with an investment of USD2 billion and total production capacity of 1465 megawatts;
- electricity generation using pumping and storage technology, with a total investment of USD2.7 billion and a production capacity of 2,400 megawatts;
- Jabal Al-Zeit station which aims to produce electricity from wind energy at a cost of EGP12 billion and a total production capacity of 580 megawatt;.
-The wind power station in Suez, valued at EGP 4.3 billion, and total production capacity of 250 megawatts.
Developing the integrated plan for water resources
The second phase of the climate change initiative, which entails creating an interactive map of the risks and threats of climate change impacting Egypt will be completed in the fiscal year 2024. The plan also aims to implement projects to raise the efficiency of infrastructure in four nature reserves. These nature reserves are located in the areas of Ras Mohammed, the New Valley, the Sinai Peninsula, and Marsa Matrouh. This is in addition to initiatives to enhance environmental awareness and the initiative to improve air quality through the expansion of the industrial emissions monitoring network. There is also the presidential initiative of 100 million trees, aimed at planting 1.5 million trees. There is also the initiative to improve water quality through the implementation of 12 projects to monitor water quality in the Red and Mediterranean Seas and the Egyptian lakes.
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