Egypt Needs More International Support to Achieve Renewable Energy Targets, PM Says
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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Heads of national road transport associations from member states of the Organization of Turkic States (OTS - TDT) gathered in Istanbul to launch a landmark initiative: the creation of the International Association of Road Transporters (TDT-URTA). This ambitious plan, unanimously approved by all participants, marks a significant step toward enhancing cooperation in road transportation among Turkic-speaking nations.
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The European company Tree Energy Solutions (TES), with headquarters in Switzerland and Belgium, has signed a Joint Study Agreement (JSA) with SOCAR during COP29. The agreement aims to explore the development of a project for producing electricity from natural gas in the form of e-NG (synthetic methane) and hydrogen in Azerbaijan.
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EU Commissioner for Climate, Wopke Hoekstra, voiced his concerns about the inclusiveness of discussions surrounding key documents at the COP29 summit during a session organized by the presidency on November 21, called the "Kurultai" (the official name of the event).
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Azerbaijan plans to allocate 7.676 billion manat ($4.5 billion) for the financing of the State Social Protection Fund (SSPF) in 2025, marking a 10.5% rise from the 2024 budget, according to Musa Quliyev, Chairman of the Parliamentary Committee on Labor and Social Policy.
Türkiyə İsraillə münasibətləri kəsdi. Azərbaycanın bu addıma münasibəti necə olacaq? – Əhməd Əlili Çətin sualda
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