The Minister of Electricity and Renewable Energy, Mahmoud Esmat, held discussions on Sunday, July 19, 2026, with a delegation from the World Bank (WB) regarding areas to enhance cooperation in power grid development, renewable energy financing, and ensuring financial stability.
The video conference where the discussion took place was also attended by the Minister of Planning and Economic Development, Ahmed Rostom. The World Bank delegation was headed by Niraj Verma, Executive Director in the Finance, Competitiveness and Investment (FCI) Department of the World Bank.
According to the Ministry of Electricity statement, the meeting reviewed joint initiatives aimed at supporting and modernizing Egypt's unified energy system, as well as expanding its capacity for integrating renewable energy sources. Furthermore, the financing of several renewable electricity generation projects was discussed.
During the negotiations, proposals were presented for the creation of a financial guarantee fund for infrastructure projects in the electricity and renewable energy sectors.
South Africa is strengthening its renewable energy capabilities with the launch of a hybrid energy storage project, which TotalEnergies calls the largest in Africa. This project is located in the Northern Cape province.
The project was launched on Thursday with the participation of TotalEnergies, Hydra Storage Holdings, and Reatile Renewables in De Aar, Northern Cape. It is also part of the Renewable Energy Independent Power Producer Procurement Programme (RMIPPPP).
This government program was created to address the electricity deficit by introducing additional generation capacity into the national grid. The program supports projects capable of ensuring reliable power supply and helping South Africa transition to a cleaner and more diverse energy mix.
The Hydra project design combines a 216 MW photovoltaic solar plant with a 500 MWh battery energy storage system, allowing renewable electricity to be fed into the national grid. The facility is expected to generate over 400 GWh of electricity annually, enough to supply approximately 200,000 South African households.
Under a 20-year power purchase agreement with Eskom, the project will supply 75 MW of dispatchable renewable energy between 5 am and 9:30 pm. During the construction of the project, about 1,600 jobs were created, and approximately 60 permanent jobs are expected during operation.
Magali Pillay, Managing Director of TotalEnergies in South Africa, stated that this project will strengthen South Africa's energy security. She emphasized that the project allows dispatchable renewable energy to be fed into the South African grid, thereby bolstering the country's energy security while simultaneously decarbonizing electricity generation.
The Northern Cape has become a hub for the country's renewable energy sector due to high solar insolation levels and the availability of land, attracting billions of rand in investment through successive renewable energy procurement programs.
Gladwell Nkumbi, head of the executive council of the local municipality of Emtanjeni, noted that the Hydra project demonstrates the growing importance of this area in South Africa's renewable energy sector. Nkumbi stated that development aimed at strengthening the country's power supply is underway, adding that the Emtanjeni municipality is proud to be one of the communities hosting these energy installations as it is an important part of their history.
