Egypt has unveiled its National Strategy for Climate Change 2050, with planned investments of US$211bn for mitigation and US$112bn for adaptation. The country, which aims to increase the share of renewables in its power mix to 42% by 2035, intends to invest US$10bn to develop 10 GW of renewables and upgrade its thermal power plants. Egypt, which is hosting COP 27 in November 2022, is due to update its Nationally Determined Contribution (NDC) before the event takes place; the country's NDC, which has not been updated since 2015, does not include a quantitative target.
Egypt has an electricity capacity of 62 GW (at the end of 2021), 80% of which is from gas and 10% from oil. CO2 emissions from fuel combustion declined by 9% in 2020, to 215 MtCO2. Previously, they increased by 3.3%/year over 2014-2019.
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