The General Authority for Investment and Free Zones (GAFI) announced that Egypt has received investment requests exceeding $6 billion from Gulf and international investors eager to obtain licenses for renewable energy ventures. Among these requests are collaborations with a European-Gulf alliance, a Chinese alliance, and an Indian alliance, each project valued at $2 billion. The country aims to boost economic growth and progress by intensifying its focus on key sectors like green energy, industry, technology, data centers, textiles, medicine, health, education, agriculture, and tourism. Additionally, Egypt plans to increase the issuance of golden licenses from twenty-five in 2023 to over fifty in 2024.
Furthermore, the Minister of Electricity and Renewable Energy revealed that the private sector in Egypt is actively involved in developing renewable energy projects with a total investment of $4.4 billion. These projects are expected to significantly enhance Egypt's overall installed capacity of renewable energy to 10,000 megawatts by the conclusion of 2025, showcasing the country's commitment to sustainable energy solutions.