Core Insights - The International Renewable Energy Agency (IRENA) reported that global renewable energy growth is set to reach a historic high in 2024, but it still falls short of established targets [1][2] - In 2023, the new installed capacity of renewable energy, including solar, wind, and hydropower, reached approximately 582 GW, marking a year-on-year increase of about 15% [1] - To meet the target set at the 2023 UN Climate Conference in Dubai, global renewable energy capacity must increase by 1,122 GW annually starting in 2025, requiring a growth rate of 16.6% over the next decade [1] - IRENA's Director-General, Francesco La Camera, indicated that while challenges exist, the renewable energy growth targets are achievable, with new installations potentially reaching 750 GW by 2025 [1] - The report highlighted that global energy efficiency only improved by 1% in 2024, significantly below the required annual growth rate of 4% to meet set goals [1] Investment Needs - There is an urgent need for large-scale investments in the grid, supply chains, and clean technologies such as solar, wind, batteries, and hydrogen production [2] - From 2025 to 2030, renewable energy investments must expand to at least $1.4 trillion annually, more than doubling from the $624 billion projected for 2024 [2]

Core Insights - Egypt plans to invest 136.3 billion Egyptian pounds (approximately 2.8 billion USD) in the electricity and renewable energy sectors for the fiscal year 2025/2026, nearly doubling the previous fiscal year's investment of 72.6 billion Egyptian pounds [1] - Public investment will account for 73% of the total investment, with the remainder coming from the private sector [1] - The output of the electricity and renewable energy sector is expected to increase from 229 billion Egyptian pounds in the fiscal year 2023/2024 to 655.6 billion Egyptian pounds in 2025/2026 [1] Investment and Growth - The Egyptian Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, emphasized that the development of the electricity sector relies on energy diversification, expanding renewable energy capacity, and improving energy efficiency [1] - The report indicates that Egypt aims to achieve a 99.8% electricity coverage rate by 2025/2026, with annual electricity generation capacity increasing to 2,350 billion kilowatt-hours [1] - The share of renewable energy in total electricity generation is targeted to rise to 20%, while energy losses are expected to decrease to 16.5% [1]