Egypt Needs More International Support to Achieve Renewable Energy Targets, PM Says
Egyptian Prime Minister Mostafa Madbouly said on Wednesday that Egypt remains committed to increasing the share of renewable energy in its electricity mix to 42% by 2030, but warned that additional international support is needed to meet this goal.
During a high-level meeting of heads of government and state leaders, Madbouly emphasized the need for stronger global cooperation to accelerate the transition to renewable energy sources.
According to a government report from July, solar, wind, and hydropower currently account for 11.5% of Egypt’s electricity generation. The country has expedited its ambitions, initially aiming to reach the 42% renewable energy target by 2040.
Despite these efforts, Egypt will still rely heavily on natural gas for its energy needs, Madbouly noted, highlighting the ongoing challenge of balancing renewable growth with existing fossil fuel dependence.
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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