Shanghai: Minister of Electricity and Renewable Energy Dr. Mahmoud Esmat reaffirmed Egypt's national commitment to modern technology transfer, industrial localization, and the advancement of renewable energy projects in his address at the Shanghai Conference for Renewable Energy, Clean Energy Solutions, and Energy Transition.

According to State Information Service Egypt, Dr. Esmat spoke before international participants from governments, global organizations, and private sector companies in Zhejiang Province, China. He outlined Egypt's ambitious energy strategy aimed at increasing the share of renewables in the country's energy mix to 42% by 2030 and 65% by 2040. He credited this progress to Egypt's strategic geographic location, abundant natural resources, and continuous political support.

The minister highlighted Egypt's achievements in attracting private investments to large-scale renewable projects, which are now among the biggest in the Middle East. He emphasized the country's clear strategy to become a regional energy hub connecting Africa, Asia, and Europe. Ongoing regional electricity interconnection projects with Saudi Arabia, Sudan, Libya, Jordan, Greece, and Italy were detailed as part of efforts to strengthen cross-border clean energy exchange.

Dr. Esmat invited Chinese companies to invest in Egypt's expanding market for renewable energy equipment manufacturing, energy storage batteries, smart grid systems, and high-voltage transformers. He noted the country's comprehensive incentives and business-friendly environment.

He concluded by reaffirming Egypt's commitment to a just energy transition in line with the Sharm El-Sheikh Implementation Plan under COP27. Dr. Esmat called for enhanced regional cooperation within the Shanghai Cooperation Organization (SCO) framework for joint renewable energy initiatives, technology exchange, and knowledge sharing.