Egypt, AIIB explore partnership in electricity, renewable energy

Minister of Electricity and Renewable Energy Mahmoud Esmat met a delegation from the Asian Infrastructure Investment Bank (AIIB) led by Konstantin Limetovski at the ministry's headquarters in the New Administrative Capital. The talks focused on strengthening co‑operation in power projects, grid development, renewable energy, and battery storage. Esmat highlighted the importance of technical collaboration to reinforce and modernise Egypt's unified grid, improve energy efficiency, and expand smart networks, including SCADA systems and smart meters. He underlined Egypt's national energy strategy, which aims to raise the share of renewables in the energy mix to 45% by 2028, and stressed the role of AIIB as a key partner in supporting grid stability, renewable generation, and battery energy storage systems (BESS). The meeting reviewed ongoing projects and future opportunities, including cross‑border electricity interconnections, expansion of solar and wind power, and private‑to‑private agreements that have boosted renewable capacity. Esmat praised AIIB as a 'success partner and main supporter' in Egypt's electricity development, noting the bank's expertise in financing, technical advisory, and promoting private sector participation.