Egypt achieved surplus in electricity sector, witnesses large investments: Int’l Energy Agency

Egypt achieved surplus in electricity sector, witnesses large investments: Int’l Energy Agency

CAIRO - 14 February 2022: Fatih Birol, Executive Director of the International Energy Agency, said that the Egyptian state has achieved success in benefiting from gas assets, and the great transformation in the developed electricity market Birol explained that Egypt was able to achieve a surplus in electricity after the deficit, and increased support and reliance on solar energy, which contributed to attracting a large amount of investments. He added, during his speech at the opening of the Egypt International Petroleum Conference and Exhibition, in the presence of President Abdel Fattah El-Sisi: "There are wonderful success stories achieved by the electricity sector in Egypt... and one of the defining challenges of the world today is climate and climate change, and Egypt was chosen to organize the climate conference to represent Africa, which is a great responsibility." He announced that Egypt officially joined the agency as a member. Birol praised Egypt's remarkable success stories, adding that Egypt, Africa and the world are at a defining moment in terms of energy and climate, according to a statement from the ministry. He affirmed full support for Egypt in light of its hosting of the COP27 global climate summit and its leadership of the