The APICORP report noted that Egypt’s largest gas projects have an estimated value of around $14 billion, while the country’s largest oil projects are projected to be $12 billion
Egypt came out on top of Arab countries in terms of production of wind and solar energy, helping it to become the 4th top country in value of energy projects across the Middle East and North Africa (MENA) during 2022-2026.
According to Arab Petroleum Investments Corporation (APICORP), revealed by the Egyptian Cabinet’s Information and Decision Support Center’s (IDSC) today, the value of energy projects in Egypt, including those planned or being implemented, is around $100 billion.
The APICORP report noted that Egypt’s largest gas projects have an estimated value of around $14 billion, while the country’s largest oil projects are projected to be $12 billion.
The energy-focused multilateral financial institution also shed light on Egypt’s aspiration to generate 42% of its electricity from renewable energy sources by 2035.
Energy investments pumped into the MENA region is expected to reach $879 billion between 2022/2026, wrote the report.
It also expected that the region's share of the global hydrogen market would range between 10-20 percent by 2050.
THE IDSC pointed out that, according to a report by the Global Energy Monitor, Egypt’s wind and solar power production reaches up to 3.5 GW in capacity, with production expected to rise to 6.8 GW in 2024, including 1.6 GW capacity of wind power and 1.9 GW capacity of solar energy, according to the infographic published by the IDSC.