European Union looks forward to cooperating with Egypt in energy field

CAIRO - 10 April 2022: The European Union is looking forward to building energy bridges and cooperating with Egypt, as it is not only a gateway and source of regular energy, but also includes new and renewable energy sources, Frans Timmermans, Executive Vice President of the European Commission for the Green Deal, stressed.

 

Timmermans said that the prospects for cooperation and partnership between the European Union and Egypt are limitless, and they have great opportunities for expansion and development, noting that this partnership will have an economic return for the Mediterranean countries.

 

“Egypt could turn into a global center for renewable energy,” he added.

 

He explained that after the recent developments in the crisis between Russia and Ukraine, the European Union sees an imperative to search for diversifying energy sources, promoting the transition to renewable energy and reducing traditional energy consumption.

 

This came during a meeting with Minister of Planning and Economic Development Hala El-Said with Frans Timmermans, Executive Vice President of the European Commission for the Green Deal, during his visit to Egypt.

 

For her part, Hala El-Said  expressed her appreciation for the efforts made by the European Union Commission to lead global climate action, and Egypt's aspiration to cooperate with the Commission within the framework of Egypt's organization of the Cop27 conference next November in Sharm El-Sheikh.

 

It reviewed a number of files handled by the Ministry; including the application of "environmental sustainability criteria" to increase green projects in the national investment plan, and to reach 50 percent of green projects by 2024/2025, including projects in the areas of clean transportation, water and sanitation improvement, renewable energy and energy efficiency.

 

El-Said pointed to the ministry's role in developing and improving the GDP structure and increasing the competitiveness and productivity of the economy by proposing and following-up macro sectoral reforms in cooperation with ministries and state institutions.

 

On the presidential initiative, "Hayah Karima", she said that it is a green initiative that serves all issues of environmental preservation and aims to improve the quality of life for more than half of the Egyptian society.

 

 It is the largest development project in the world in terms of its coverage of more than 58 million Egyptian citizens, as well as the investments allocated to it, and the type of services provided in the different villages, she elaborated.

 

She stressed the importance of the goal of developing the Egyptian human being and improving the quality of life by upgrading the characteristics of the population.

 

El-Said pointed to the role of Hayah Karima in the face of climate change through measures to mitigate and adapt to the effects of climate change, integrating the local community as a partner in climate projects, and launching an experiment for a number of villages as green villages.

 

The Minister of Planning also noted the role of Egypt's Sovereign Fund for joint promotion/investment in green initiatives, such as water desalination and renewable energy in green hydrogen and ammonia projects with a number of European companies.