EBRD spotlights Egypt’s NWFE as clean energy success story with 10 GW, $5 bn investment

10 / 07 / 2026

• news
• The New Republic

The European Bank for Reconstruction and Development (EBRD) has highlighted Egypt’s Nexus of Water, Food and Energy (NWFE) program as a leading example of clean energy transition, citing major progress in renewable energy deployment, grid modernization, and private-sector investment.

Featured as a case study in the EBRD’s latest Impact Report, the initiative has already secured more than 10 GW of wind and solar power purchase agreements and over $5 billion in finalized investments, positioning Egypt among the region’s fastest-moving renewable energy markets.

Driving Egypt’s energy transition:

Launched during COP27 in Sharm El Sheikh, the NWFE program serves as Egypt’s flagship decarbonization platform. As lead partner of the initiative’s energy pillar, the EBRD is coordinating government agencies, development partners, and private investors to accelerate the country’s shift toward clean energy.

Egypt aims to increase renewables’ share of its electricity generation mix to 42% by 2030, up from around 13% in 2022. The transition is expected to strengthen energy security, reduce dependence on imported fossil fuels, replace aging power assets, and support a 37% reduction in power-sector emissions by the end of the decade.

Four pillars of progress:

According to the report, NWFE has already delivered measurable progress across four priority areas:

• Scaling up renewable energy: Developers have signed more than 10 GW of wind and solar PPAs, while financial agreements covering just over 5 GW have been finalized, mobilizing more than $5 billion in private investment. The initiative aims to attract $10 billion by 2028.
• Retiring thermal generation: Egypt has permanently closed more than 1 GW of inefficient thermal power capacity as part of a broader plan to decommission 5 GW and make room for renewable generation.
• Modernizing the grid: The EBRD has facilitated around €350 million in concessional financing for grid upgrades, including €205 million from the Bank itself, helping prepare the network to integrate up to 10 GW of renewable capacity while supporting battery storage and advanced grid management.
• Advancing policy reforms: The Bank continues to support regulatory reforms designed to expand private investment, enable competitive procurement, and develop local supply chains for wind, solar, hydrogen, and desalination technologies.

Public-private partnership at scale:

The report credits strong collaboration between the Egyptian government, development finance institutions, donors, and private investors for turning national climate ambitions into bankable projects.

Development partners have also provided around $40 million in incentive grants to support thermal power plant decommissioning, while concessional finance, technical assistance, and policy reforms have helped reduce investment risks and accelerate project implementation.

The EBRD said the NWFE platform demonstrates how coordinated public-private partnerships can mobilize large-scale capital, strengthen energy resilience, and advance Egypt’s long-term decarbonization goals.