(MENAFN- Daily News Egypt) Egypt has inaugurated the 500-megawatt Abydos 1 Solar Power Plant in Kom Ombo, with Prime Minister Mostafa Madbouly stating the project demonstrates the country's dedication to providing significant investment opportunities for national, Arab, and foreign private sectors. Speaking at the launch, the Prime Minister said that the Abydos 1 plant represents a fundamental change in Egypt's approach to managing its natural resources.

The inauguration ceremony, held in the Kom Ombo desert of Aswan Governorate, was attended by several high-profile figures. These included Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation; Mahmoud Essmat, Minister of Electricity and Renewable Energy; Karim Badawi, Minister of Petroleum and Mineral Resources; Ismail Kamal, Governor of Aswan; Maryam Al Kaabi, the UAE Ambassador to Egypt; Fumio Iwai, the Japanese Ambassador to Cairo; and Hussein Al Nowais, Chairperson of Al Nowais Investments and AMEA Power. Various officials from the Ministry of Electricity and Renewable Energy were also present.

Prime Minister Madbouly began his address by welcoming the ministers, governors, and guests from AMEA Power. He also conveyed greetings from President Abdel Fattah Al-Sisi, who acknowledged the efforts made towards achieving Egypt's objectives in the electricity and energy sectors, especially in the realm of renewable energy. The Prime Minister emphasised that these efforts were crucial to resolve the energy challenges experienced last summer, and he recognised the dedication of Egyptian citizens in overcoming these issues.

The Prime Minister expressed his satisfaction at the launch of the solar power plant developed by AMEA Power. He highlighted the project as a symbol of the strong relationship between Egypt and the UAE at both governmental and public levels.

Prime Minister Madbouly reiterated Egypt's commitment to offering exceptional investment prospects for private-sector partners, benefiting the Egyptian people. He described the project as a crucial step toward promoting the adoption of renewable energy, showcasing Egypt's dedication to long-term environmental and economic sustainability.

He went on to explain that Egypt's Vision 2030 is based on principles of inclusive and sustainable development across economic, social, and environmental dimensions. Energy, the Prime Minister noted, is a fundamental part of this vision, vital for national development and progress. He also said that energy security was essential to national security, as the successful execution of development plans relies on a dependable energy supply.

The Prime Minister said that the Abydos 1 plant was more than just an addition to Egypt's renewable energy output. He said it signified a transformative shift in how Egypt is utilizing its natural resources, aiming for greater efficiency in meeting the country's energy needs.

Madbouly added that global environmental concerns require the adoption of innovative and sustainable solutions, and the project aligns with Egypt's national strategy of reducing dependence on traditional energy sources and enhancing adaptability within the energy sector.

He also noted that the government has allocated resources to stabilise the national electricity grid and avoid future power cuts. There is an urgent plan to add 4,000 megawatts of renewable energy by the summer of 2025. He said the Ministry of Electricity and Renewable Energy, working with other agencies, had successfully addressed power outages, and wasworking towards ensuring a consistent electricity supply, while upholding high quality standards.

The Prime Minister highlighted the joint effort between the Ministries of Electricity and Renewable Energy and Petroleum and Mineral Resources to secure adequate power supplies for the summer of 2025. He said the plan involves securing an additional 3,000 to 4,000 megawatts with an investment of $4 billion. This will be accomplished through private-sector projects, scheduled to become operational by next summer. The Prime Minister said that this demonstrates a commitment to increasing reliance on renewable energy, avoiding load shedding, and reducing petroleum imports.

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