Foreign
By Kennedy Nnamani
THE United States of America in collaboration with the Arab Republic of Egypt and the Federal Republic of Germany on Saturday released an outline of a plan to accelerate energy transition in Egypt.
The statement from the office of Ned Price, U.S spokesperson, the energy transition plan will be done through Egypt’s Country Platform for Nexus Food, Water, and Energy, NWFE.
It noted that the United States and Germany are committed to mobilize over $250 million in resources to support the deployment of 10GW of new wind and solar energy projects, while decommissioning 5GW of inefficient natural gas generation.
“This project is coordinated by the European Bank for Reconstruction and Development,” it said.
It added that Egypt is committed to enhance its nationally determined contribution by quadrupling its installed renewables capacity share to 42 percent by 2030.
The statement disclosed that Egypt is further committed to adopt an ambitious 2050 long-term strategy with a view to explore a net-zero greenhouse gas emissions target and kick-start the development of green hydrogen.
“Egypt will also plan to expand the use of zero-emission vehicles, sustainable public transport and other solutions for reducing greenhouse gas emissions from transport,” it added.
While expressing hope on the result from the commitment of the three countries committed to reduce methane emissions from Egypt’s oil and gas sector, the statement noted that these commitments “would yield major climate benefits by reducing Egypt’s power sector emissions by about one fifth, cutting methane pollution, and enhancing energy security by freeing up over two billion cubic meters of gas.”
It is pertinent to know that Egypt’s announced NDC enhancement comes among additional NDC enhancements from major emitters since COP26.
KN
Tags: COP26 Ned Price
