Egypt Joins Global Energy Alliance to Enhance Renewable Energy and Energy Storage

Egypt's Minister of International Cooperation, Rania A. Al-Mashat, and the Minister of Electricity and Renewable Energy, Mohamed Shaker, signed a letter of intent to join the Battery Energy Storage Systems Alliance (BESS) during COP28 in Dubai. This move brings the number of joining countries to 10, with Egypt aiming to enhance joint work to secure 5 GWs of stored energy by 2024. The alliance's goal is to achieve 400 GWs of renewable energy by 2030 to meet the global energy need.

Key Takeaways:

• Egypt's signature on the BESS letter of intent brings the total joining countries to 10, highlighting the growing global interest in adopting energy storage technologies to accommodate the increasing demand for renewable energy sources.
• The BESS Alliance aims to accelerate efforts to expand reliable and efficient renewable energy storage systems, especially for low and middle-income countries, meeting the growing demand for energy in those countries.
• The Ministry of International Cooperation stated that the alliance aims to secure 5 GWs of stored energy by 2024, a step towards achieving the alliance's goals of achieving 400 GWs of renewable energy by 2030.
• Egypt joining the GEAPP is in line with its priorities to implement the National Sustainable Energy Strategy 2035, increase the proportion of renewable energy in the energy mix to reach 42 percent by 2030, and implement the Nationally Determined Contributions (NDCs) and the National Climate Change Strategy.
• The government has committed to strengthening work with international partners to stimulate a fair transition to renewable energy, with the first agreement signed between the Norwegian company SCATEC and the Ministry of Electricity in Egypt to generate 1 GW of solar energy with BESS battery energy storage solutions.
• The project is the first of its kind in Egypt and the largest in the region with these technologies, with the participation and support of international financial institutions such as the Norwegian government, the AfDB, British International Investment (BII), and the American Finance Corporation (DFC).
• Al-Mashat stated that these efforts would achieve global goals aimed at operating storage capacities amounting to 359 GWs by 2030 to meet the goals of maintaining the Earth's temperature at 1.5 degrees Celsius.

Statistics:

• 10 countries have joined the Battery Energy Storage Systems Alliance (BESS) since Egypt signed the letter of intent.
• The alliance aims to achieve 400 GWs of renewable energy by 2030.
• Egypt aims to secure 5 GWs of stored energy by 2024 as part of the BESS Alliance.
• 42% of Egypt's energy mix is expected to be comprised of renewable energy by 2030.
• 359 GWs of storage capacities are expected to be operated by 2030 to meet the goals of maintaining the Earth's temperature at 1.5 degrees Celsius.
• The first agreement signed between SCATEC and the Ministry of Electricity in Egypt aims to generate 1 GW of solar energy with BESS battery energy storage solutions.

Sources:

• State Information Service Egypt
• International Renewable Energy Agency (IRENA)
• Global Energy Alliance for People and Planet (GEAPP)
• Ministry of International Cooperation, Egypt
• Ministry of Electricity and Renewable Energy, Egypt
• African Development Bank (AfDB)
• World Bank
• Asian Development Bank
• Inter-American Development Bank
• French Development Agency (AFD)
• German International Cooperation Agency (GIZ)
• Africa 50 Fund
• Infinity Power
• Sustainable Energy for All (SEforALL)