Cairo: Minister of Electricity and Renewable Energy Mahmoud Esmat emphasized that rationalizing spending and maximizing returns from owned assets are key priorities. He revealed that a working group has been established to inventory and register assets owned by the electricity sector nationwide, aligning with the state's digital transformation agenda. Additionally, the former headquarters of the Hydropower Plants Authority has been repurposed as the new premises for the Electricity Utility Regulatory and Consumer Protection Agency.

According to State Information Service Egypt, Esmat made these statements during a field visit to the former building to evaluate the utilization plan aimed at enhancing economic returns for the New and Renewable Energy Authority. During his visit, Esmat assessed the building's rehabilitation, which will serve as the new regulatory headquarters under the National Energy Strategy. This initiative aims to separate production, transmission, and distribution to ready the market for private sector engagement through efficient asset management.

Esmat received a detailed explanation from Ihab Ismail, Chairman of the New and Renewable Energy Authority, about the utilization plan for the building, which previously housed the dissolved Water Power Plants Projects Execution Authority. The minister noted that the building currently accommodates the Regional Center for Renewable Energy and Energy Efficiency. Following board approvals, it is slated to become the regulatory agency's headquarters, supporting market organization and encouraging private sector involvement.

He also highlighted ongoing efforts to qualify the electricity market and utilize idle assets as revenue sources. The minister underscored that improving performance and achieving financial sustainability necessitates leveraging all available resources and assets across ministry subsidiaries.