In recent years, Egypt has been adding unprecedented capabilities to its national power grid in order to achieve economic development and energy security, Shaker said.

The country is also prioritising the export of renewable energy, with an eye towards transforming Egypt into an energy hub and an electricity carrier for Europe, the electricity minister added.

He made his remarks during the sixth edition of Al-Ahram Energy Conference (AEC).

Egypt has been self-sufficient in electricity since June 2015, and now enjoys a surplus of more than 25 percent.

Egypt’s electricity production has increased by over 30,000 MW in six years, an unprecedented leap, according to a previous statement by the electricity ministry.

Egypt’s electricity grid has played a vital role in supplying energy to neighbouring countries such as Lebanon via Jordan, Libya and Sudan.

Shaker also referred to the ongoing implementation of an interconnection between Egypt and Saudi Arabia, saying the $1.8 billion project will lead to the exchange of 3,000 MW of electricity between the two countries, making it one of the largest lines in the region.

Moreover, nine framework agreements have been signed to produce green hydrogen and its derivatives using renewable energy, he added.

They aim to add more than 100,000 MW to the power grid over 10 years, cutting 37 million tons of harmful emissions annually, the minister said.

Total investments for these projects amount to $83.8 billion and they will provide 264,000 job opportunities, of which 44,000 are direct jobs, he noted. 

Minister of Planning and Economic Development Hala El-Said has previously said that “Egypt is emerging as a global and regional powerhouse for green hydrogen production, storage and export.”

She noted that the total investment in hydrogen infrastructure in Egypt might reach $500 billion in 2030.

The country aims in the coming years to reduce carbon emissions, promote the use of renewable energy sources, and use alternative energy forms –  including green hydrogen –  as part of its National Climate Strategy 2050, which was announced by the government in May.

According to Shaker, Egypt has produced about 6,000 megawatts of electricity from renewable sources by the end of 2022, which constitutes 20 percent of the maximum energy load.

The country's energy production from renewables is expected to rise to 10,000 megawatts by the end of 2025, First Undersecretary of the Ministry of Strategic Planning Ahmed Mahina said in a speech during the AEC.