Sat, 10 Sep 2022 - 04:10 GMT
Sat, 10 Sep 2022 - 04:10 GMT
CAIRO – 10 September 2022: Egyptian President Abdel Fattah El-Sisi discussed on Saturday with CEO of Norway’s Scatec Terje Pilskog cooperation with regard go renewable energy projects and the establishment of a project to produce 3 GW of electricity from wind.
This comes within the framework of the national strategy to generate clean energy, said the Egyptian Presidency in a statement on the meeting in Egypt.
The president affirmed Egypt’s keenness on cooperating with the Norwegian company given the deep experience it enjoys in the field of new and renewable energy.
This comes while green energy sector enjoys unprecedented support from the Egypt state as one of its most important priorities, the Presidency noted.
Scatec CEO affirmed the great interest that the Norwegian company attaches to cooperation with Egypt in the field of clean energy, especially in light of the ongoing preparations for Egypt to host the Climate Summit (COP27) next November.
This is in addition to the wealth that Egypt enjoys in renewable energy sources, including wind and sun, which qualifies it to be one of the largest producers of renewable energy in the world, thus enhancing promising investment opportunities in this field.
Sisi also followed up on Saturday on cooperation with Australia’s global green energy company Fortescue Future Industries (FFI) regarding green hydrogen and green ammonia producton.
This came as President Sisi met in Egypt with Chairman of FFI Andrew Forrest in the presence of Minister of Electricity and Renewable Energy Mohamed Shaker, and Minister of Petroleum and Mineral Resources Tarek El Molla, the Presidency said.
Cooperation between Egypt’s Electricity and Renewable Energy Minister and FFI includes a project to produce 9.2 gigawatts of electrical energy from new and renewable energy, the statement said.
This is besides localizng industries related to the generation of electricity from the solar and wind, such as solar panels and wind turbines.
During the meeting, Sisi directed giving all facilitations required to expedite the implementation of joint green power projects with FFI and to benefit from the advanced expertise enjoyed by the Australian company in this field.
“This comes in light of Egypt’s interest to keep up with the global energy trend to increase the use of renewable energy,” the Presidency said.
“This also comes within the framework of the national strategy that seeks to increase the contribution of renewable energy to the electricity energy mix, stemming from the state’s interest to diversify the sources of electrical power production and leverage Egypt’s natural wealth,” the Presidency added.
Forrest hailed the huge capabilities and resources of the renewable energy sector in Egypt, noting that they qualify the country to become an international hub for the production of green power.
He also affirmed his company’s keenness on maintaining cooperating with Egypt in this regard.
The Egyptian government has implemented a strategy for turning the country into a regional hub for green energy production and export.
Recently, Egypt has signed a series of deals with global companies for green hydrogen production in the Suez Canal Economic Zone, including India's ReNew Power, Scatec, Germany's H2-Industries, and Abu Dhabi Future Energy Company (Masdar).
These companies pledged to pump investments amounting to over $40 billion in the field of green hydrogen production by 2030 a step that will go in parallel with Egypt's starting the establishment of its first nuclear plant to generate 4,800 megawatts, according to media reports.