Minister of Electricity and Renewable Energy Mahmoud Esmat discussed with a delegation from the World Bank, led by Senior Energy Specialist Yousra Assaker, prospects for cooperation and partnership in future projects, including advisory services related to renewable energy projects, energy mix strategy and increasing reliance on renewable energy sources.
In a statement on Tuesday, May 19, 2026, the ministry said the meeting reviewed cooperation in supporting and upgrading the unified power grid, optimal expansion plans for generation capacities to meet rising electricity demand and securing financing for a number of renewable electricity generation projects, in line with Egypt’s national energy strategy targeting a 45 percent share of renewables in the energy mix by 2028.
The discussions also covered models used for forecasting future electricity loads and expected energy demand, as well as electricity storage technologies aimed at securing grid stability and ensuring reliable power supply. The meeting further addressed plans to reduce power losses, environmental and social impact assessment projects, capacity-building and workforce training programs, digital transformation and the transition from a conventional grid to a smart grid.
The talks additionally tackled restructuring plans and electricity interconnection projects aimed at turning Egypt into a regional energy hub and a bridge for energy exchange between Africa, Asia and Europe. Esmat praised the fruitful cooperation between the electricity sector and the World Bank, stressing the importance of joint efforts to exchange expertise, enhance innovation in renewable energy technologies, overcome financing challenges and strengthen the power grid.
He highlighted the World Bank’s supportive role in electricity interconnection projects, affirming that Egypt is pressing ahead with efforts to become a regional energy hub linking African, European and Asian energy markets, leveraging its strategic location and infrastructure projects.
The minister referred to electricity interconnection projects with Greece and Italy, as well as existing projects with neighboring countries including Sudan, Libya and Jordan, in addition to the ongoing interconnection project with Saudi Arabia, which is scheduled to become operational this year.
He noted that these projects aim to achieve regional energy integration and enhance grid stability, generating economic benefits for all participating countries. Esmat added that restructuring measures, including separating the Egyptian Electricity Transmission Company as an independent grid operator, were implemented according to clear economic standards and regulations.
He stressed ongoing efforts to separate electricity generation from distribution, maximize returns from available assets, expand reliance on renewable energy, reduce fossil fuel use and curb carbon emissions. The minister also underlined efforts to attract further investments, open the sector to local and foreign private investors and support investment in renewable and clean energy projects, noting that private investment currently leads Egypt’s solar and wind energy sectors.