$ 120 million.. Egyptian investments in a station to convert waste into electricity

The construction of a waste-to-electricity plant in Egypt has witnessed new developments.

Converting solid waste into electric energy

On Tuesday, April 4 (2023), the Ministers of Electricity, the Minister of the Environment, the Minister of Finance, the Minister of Local Development, and the Minister of Military Production attended the signing ceremony for the implementation contract for the financing, design and construction of the first station for converting solid waste into electric energy, according to the Egyptian Council of Ministers.

$ 120 million

It is scheduled to establish a waste-to-electricity plant in Egypt, in partnership between the Giza Governorate, and an alliance that includes the National Authority for Military Production and the “Renergy” company, at a total cost of $ 120 million in direct investments, according to what was seen by the specialized energy platform.

The Minister of Environment, Dr. Yasmine Fouad, said that the signing of the contract for the construction of the waste-to-electricity plant was carried out in cooperation between several ministries. 

She pointing out that the government has adopted a national strategy to allocate part of the solid waste, which amounts to 5 million tons annually, to convert it into energy.

Global challenge

Dr. Yasmine Fouad pointed out that waste does not only represent a national challenge, but is also linked to a global challenge, which is climate change, as waste is in the second place to emit greenhouse gas emissions in Egypt after the energy sector, at a rate of 13%.

Promoting environmentally friendly investments

 The Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, expressed his appreciation for the state's interest in the underdeveloped mechanisms for disposing of solid waste and benefiting from them in energy production projects.  Stressing the importance of encouraging investment in renewable energy and the transition to clean green energy.

Healthy environment 

The Minister of Finance, Dr. Mohamed Maait, said that projects to convert waste into electricity create a path to promote environmentally friendly investments in 

Sectors with developmental and economic priorities, in a way that lays the foundations for a healthy environment and achieves an economic return, in line with efforts to transition to a green economy.

Dr. Mohamed Maait added, that Egypt is looking forward to a greater contribution from the private sector to investments of national priority, in light of the government's unprecedented support to enhance the participation of the private sector in economic activities, through a package of tax and customs incentives that support production.