Egypt has shared new plans to raise the share of green investments in its public budget. According to statements made during the Arab Sustainability Expo, the government aims to allocate 50% of total public investments to green projects in the fiscal year 2024/2025. The total value of these projects is expected to reach around $14.7 billion.
By 2030, the target is to raise the share of green projects to 75%. These plans follow Egypt’s Environmental Sustainability Standards Guide, which is applied to all state-funded projects.
The green investment approach includes several sectors. These cover renewable energy projects based on wind and solar sources, as well as transportation systems. Ongoing transportation efforts include the electric monorail lines under development in the New Administrative Capital and in 6th of October City.
Other areas receiving green investments include projects in seawater desalination, water resource planning, irrigation development, and improvements in solid waste management infrastructure.
One example is the Ras Shuqair project. It is being carried out through partnerships between the Red Sea Ports Authority, the New and Renewable Energy Authority (NREA), and various companies. The total cost of this project is about $7.7 billion. Once completed in three stages by 2029, the project is expected to produce one million tons of green ammonia per year.
In the green hydrogen sector, foreign direct investment across 33 projects has reached an estimated $215.5 billion. This includes both ongoing and announced projects in various governorates.
Private sector investment in Egypt’s renewable energy sector has reached $4.4 billion. In addition, plans are being developed to attract up to $12 billion in Indian investment for green hydrogen and other renewable energy projects.
Egypt continues to position itself as a regional center for clean energy development. Multiple government agencies and private partners are currently involved in preparing and launching future projects in this sector.
