Media ININ Economy We Trust
The governments of the United States, Egypt, and the Federal Republic of Germany issued a political statement outlining a plan to accelerate the energy transition in Egypt through the existing platform in Egypt for Food, Water and Energy (Novi).
The United States and Germany have committed to providing more than $250 million in resources to support the deployment of 10 gigawatts of wind and solar energy projects, while shutting down 5 gigawatts of inefficient natural gas generation, said a State Department statement received by dpa. . The European Bank for Reconstruction and Development is coordinating this project.
Egypt has committed to enhancing its Nationally Determined Contribution by quadrupling its share of renewable energy to 42% by the year
Egypt has also committed to adopting an ambitious long-term strategy for the year 2050 with the aim of exploring achieving the goal of zero greenhouse gas emissions and starting the development of green hydrogen.
