The European Union (EU) has announced that their funded Technical Assistance to Support the Reform of the Energy Sector (TARES) project in Egypt can achieve feasibly energy savings up to 20 million tons of oil equivalent (mtoe) by 2035, corresponding to 18% of the total consumption in 2035. The potential savings affect all sectors including the construction, industry, and transport sectors with 8.6mtoe, 6.76mtoe, and 4.5mtoe, respectively, according to a press release published on the EU External Action website.
TARES “aims to improve energy policy and regulatory framework and promote energy efficiency and mitigation of Greenhouse gas (GHG) emissions. With an overall budget of EGP 590.3m, the Energy Sector Policy Support Program aims to assist Egypt in implementing its far-reaching energy reforms and to foster implementation of its strategic energy partnership with the EU to improve energy security and sustainable development.”
Daily News Egypt wrote that the press release came after the first Energy Efficiency Governance workshop, which included an EU delegation, along with the Ministry of Electricity and Renewable Energy, and the Ministry of Petroleum and Mineral Resources.