Ahmad 
The Egyptian Ministry of Electricity and Renewable Energy announced its intention to move forward with its strategic plan to diversify electricity production sources by enhancing reliance on hydroelectric power.
The ministry aims to implement hydroelectric power projects worth up to $4 billion, in cooperation with the private sector.
Among the main projects that the ministry intends to implement is a water pumping and storage station to produce electricity with a capacity of 2,400 megawatts in the Ataka area. This project has been included in its strategy, and work is currently underway to complete the necessary procedures.
A memorandum of understanding was signed with a Chinese company to implement the project more than three years ago, but the project was postponed due to financial and technical challenges.
Government sources added that the ministry is in the process of negotiating with leading global companies in the field of hydroelectric power, in addition to specialized financing entities, to search for opportunities for cooperation and resume the project.
This step comes within the framework of the ministry’s efforts to secure electricity supplies and reduce reliance on fuel imports, given the low cost of producing hydroelectric power compared to other sources, in addition to low maintenance costs.
Currently, hydropower accounts for about 5% of Egypt’s total renewable energy on the grid, which stands at 20%. The ministry aims to increase the share of renewable energy to more than 42% of total electricity produced by 2042.
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