Egypt signed on Sunday a letter of intent to join the Battery Energy Storage Systems Alliance (BESS); a key initiative under the Global Energy Alliance for People and Planet (GEAPP), during COP28 in Dubai.
This brings the total number of participating countries to 10, with the Minister of International Cooperation, Rania A. Al-Mashat, and the Minister of Electricity and Renewable Energy, Mohamed Shaker, signing the letter of intent.
The Ministry of International Cooperation stated that the alliance's objective is to collaborate in achieving 5 GW of stored energy by 2024 and contribute to the broader goal of attaining 400 GW of renewable energy by 2030, as outlined by the Ministry of International Cooperation.
The BESS Alliance seeks to expedite the deployment of reliable and efficient renewable energy storage systems, particularly for low and middle-income countries, addressing the rising energy demand and providing electricity access to approximately 3 billion people globally, according to the ministry.
Al-Mashat emphasized the increasing global interest in adopting energy storage technologies to accommodate the growing demand for renewable energy sources. Energy storage is seen as indispensable for overcoming the rising need for renewable energy, especially in developing and low-middle-income countries.
Egypt's participation aligns with its commitment to implementing the National Sustainable Energy Strategy 2035, increasing the share of renewable energy in the energy mix to 42% by 2030, and fulfilling the Nationally Determined Contributions (NDCs) and the National Climate Change Strategy.
Al-Mashat appreciated the close collaboration among BESS alliance members, including the African Development Bank (AfDB), the World Bank, the Asian Development Bank, and various private sector entities. She emphasized the government's dedication to working with international partners to facilitate a just transition to renewable energy.
Egypt's initial step towards this commitment involves a groundbreaking agreement with the Norwegian company SCATEC and the Ministry of Electricity to generate 1 GW of solar energy using BESS battery energy storage solutions. This marks a significant regional project, supported by international financial institutions, including the Norwegian government, AfDB, British International Investment, and the American Finance Corporation.
These endeavors contribute to global targets aiming to operate storage capacities of 359 GW by 2030, aligning with objectives to limit global temperature increases to 1.5 degrees Celsius.
Al-Mashat highlighted national efforts to stimulate green transformation through the NWFE program's energy pillar, intending to cease operations of 5 GW thermal power plants by 2025 and establish 10 GW renewable energy plants (solar and wind) by 2028. Agreements have been signed for projects totaling 3.7 GW in 2023 in collaboration with the private sector and development partners.