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4 FAQs about [Cairo energy storage industry planning map]
What is a large-scale energy storage project?
The project aims at providing the scientific, technological and policy basis required for the development and implementation of large-scale energy storage in Egypt, enabling increased penetration of renewable energy sources in the Egyptian energy system.
What is Egypt doing to reduce energy consumption?
As part of the efforts done by the government to regulate energy consumption, the Ministry of Electricity has started working on replacing 38 million old electricity meters with smart pre-paid ones. There are 10 million units installed and the rest will be installed in the coming 5 years. Part of Egypt’s Vision 2030 is to increase local content.
How much FDI is needed in Egypt's energy sector?
FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by real estate, manufacturing, financial services and construction. The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030.
How much money does Egypt need to upgrade its distribution network?
The government of Egypt invested around EGP 24 billion (around USD 1.5 billion) in the distribution grid between 2017 and 2020. It currently needs around EGP 19.5 billion (USD 1.2 billion) to upgrade its distribution networks. The government is also working on modernizing 47 distribution control centers around the country.