Egypt’s Prime Minister Mostafa Madbouly reviewed the implementation status of the country’s renewable energy projects during a meeting on Sunday, stressing the importance of keeping construction on schedule and ensuring timely payments to project developers to support Egypt’s clean energy transition.
The meeting was attended by Minister of Electricity and Renewable Energy Mahmoud Esmat via video conference, Minister of Finance Ahmed Kouchouk, senior officials from the Ministry of Finance, the Ministry of Planning, and representatives of other relevant government entities.
Madbouly said renewable energy projects remain a strategic priority for the government as part of its efforts to diversify energy sources, strengthen energy security, and support sustainable development. He stressed that no project should face delays or suspension, particularly with the start of the new fiscal year.
The prime minister also reviewed the status of payments to local and international companies implementing the projects, emphasizing the importance of meeting financial commitments according to agreed schedules to strengthen partnerships with the private sector and maintain investor confidence.
He announced that a follow-up meeting will be held with Central Bank of Egypt (CBE) Governor Hassan Abdalla and Finance Minister Ahmed Kouchouk to review financing arrangements for the projects before presenting the outcomes to President Abdel Fattah El-Sisi.
During the meeting, Electricity Minister Mahmoud Esmat said the ministry remains committed to implementing Egypt’s national strategy to increase the share of renewable energy in the country’s electricity mix by maximizing the use of natural resources and expanding clean energy generation.
He added that the government’s plan includes upgrading the national electricity grid to accommodate additional renewable energy capacity, expanding energy storage systems, and strengthening cooperation with the private sector to ensure projects remain on schedule. Esmat noted that the ministry continues to coordinate with the Ministry of Finance to secure the funding required for project implementation and accelerate project delivery.
For his part, Finance Minister Ahmed Kouchouk said the ministry is coordinating with the CBE to provide the financial allocations needed for renewable energy projects and ensure the regular payment of developers’ dues.
He added that the new fiscal year’s budget prioritizes financing for green transition initiatives and renewable energy investments through flexible and sustainable funding mechanisms designed to support project implementation and attract additional private sector investment.
Concluding the meeting, Madbouly called for continued coordination between the Ministries of Electricity and Finance and the Central Bank to closely monitor project financing, resolve implementation challenges, and ensure the timely completion of renewable energy projects. He described the sector as a key driver of economic growth, improved energy efficiency, lower production costs, and increased domestic and foreign investment.
