COP 27 Wrap: Egypt’s NWFE platform garners international support

COP 27 Wrap: Egypt’s NWFE platform garners international support

Egypt’s government-led Nexus on Water, Food and Energy (NWFE) platform, which is part of the country’s national climate change strategy 2050, has secured international support from international consortium for its Energy pillar.

The European Bank for Reconstruction and Development (EBRD), the lead partner on the NWFE energy pillar, said in addition to the US and Germany, the consortium includes the European Commission, France, the Netherlands, Denmark and the United Kingdom.

In his COP 27 address, US President Joe Biden had announced a $500 million package, alongside the EU and Germany, to finance and facilitate Egypt’s transition to clean energy.

“This package will enable Egypt to deploy 10 gigawatts (GW) of renewable energy by 2030, while bringing offline 5 GW of inefficient gas-powered facilities, reducing emissions in Egypt and power sector by 10 percent,” President Biden said, adding that the US will also work with Egypt to capture nearly 4 billion cubic metres of gas, which the country currently flares, vents, or leaks from its oil and gas operations.

The EBRD statement cited US Special Presidential Envoy for Climate John Kerry as saying that the US, with the Germany, is committed to providing concessional financing to get the Egypt’s first 10 GWs done “quickly and