Ministers of Electricity, Renewable Energy, Environment, Agriculture, Transport, Water Resources and Irrigation joined with the Chairman of the Suez Canal Economic Zone (SCZONE) to discuss progress on the NWFE program, according to a statement on Sunday. 

Attendees included the heads of the European Bank for Reconstruction and Development, International Fund for Agricultural Development, and African Development Bank, as well as the EU, World Bank, International Finance Corporation (IFC), USAID and representatives from Germany, France, US, Denmark, Canada, Switzerland and the UK. 

“In collaboration with the European Bank for Reconstruction and Development, alongside other partners and relevant national authorities, significant milestones have been achieved, including the identification of two stations among the twelve for decommissioning, part of a broader plan to phase out 5 gigawatts of thermal stations. Additionally, grants totalling $40 million have been secured to bolster this initiative,” said Rania Al-Mashat, Minister of International Cooperation. 

The minister added that agreements for a renewable generation capacity of 3.7 gigawatts, out of a 10-gigawatt target, were successfully secured with private sector involvement. 

The event reviewed aspects of the NWFE and launched the first follow-up report on linking water, food and energy initiatives. 

The NWFE programme includes nine projects with investments of $14.7 billion. Among these is an energy megaproject to replace conventional power stations with facilities fuelled by renewable energy at a cost of $10 billion. 

Over the past year, Egypt signed many MoUs with various international entities to attract foreign investment in green hydrogen and to become a hub for hydrogen production.

In June, the Egyptian government updated its Nationally Determined Contributions (NDC), which included setting more ambitious greenhouse gas (GHG) emissions reduction targets and securing the needed finances.