Egypt, Denmark sign partnership agreement to unlock green transformation, invest in renewable energy

BY

Sat, 29 Aug 2020 - 09:57 GMT

Egypt, Denmark sign agreement to invest in renewable energy - Press photo

Egypt, Denmark sign agreement to invest in renewable energy - Press photo

CAIRO - 29 August 2020: Minister of International Cooperation Dr. Rania Al-Mashat, and Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, signed the Egyptian-Danish Energy Partnership Program (2019-2022) agreement with the Energy Agency of the Danish Ministry of Climate, Energy and Utilities, to unlock Egypt’s green transformation and invest in renewable energy. 
 
Harnessing the power of partnerships, Al Mashat said that the new partnership agreement aims to create a platform to push for closer cooperation between Egyptian government institutions and their Danish counterparts through a strategic cooperation in the energy field beginning from this year. She added that the agreement aims to consolidate commercial relations and exchange experiences in the field of technology and clean energy between the two countries.
 
The agreement comes within the framework of the “Global Partnerships for Effective Development Cooperation” multi-stakeholder platform between multilateral and bilateral development partners launched by the ministry last April, which aims to ensure that development interventions are prioritized and are strongly aligned to maximize impact and achieve sustainability. 
 
Additionally, it helps achieve Goal 7 of the United Nation’s Sustainable Development Goals through doubling the improvement in energy efficiency, and also aims to accelerate the implementation of Egypt’s sustainable energy strategy until 2035, which was adopted by the government in October 2016. The strategy aims to improve financial sustainability and the operational efficiency of the energy sector, as well as ensure access to affordable, reliable, sustainable and modern energy.
 
Through the New Global Partnership Narrative, a human-centered model of economic growth was adopted to accelerate the achievement of the 17 United Nation’s Sustainable Development Goals and ensure that “no one is left behind.” For that reason, it focuses on three pillars: ‘People at the Core’, ‘Projects in Action’ and ‘Purpose as the Driver’. 
 
For the first pillar, Egypt has given top priority to improve the lives of the Egyptian peoples and push them towards realizing their full potential. As for the second pillar, projects are implemented across multiple sectors including in education, transportation, water desalination, renewable energy, entrepreneurship, and women empowerment to answer to each of the SDGS. For the third pillar, partnerships with development partnerships are always made with purpose to generate sustained and inclusive growth in a rapidly changing world.
 
For his part, Dr. Muhammad Shaker, Minister of Electricity and Renewable Energy, said that the ministry will seek to form a joint committee with the Danish side, which will serve as a forum for comprehensive strategic dialogue between Egypt and Denmark to discuss cooperation in the energy field, and reach decisions on the strategic cooperation program between the two countries.
 
He stressed that the agreement signed with the Danish side supports the state's capabilities to accelerate the pace of Egypt’s green transformation by developing plans to ensure access to affordable clean energy and implementing wind energy projects, referring to Egypt’s energy strategy until 2035, which seeks to increase the share of renewable energy to more than 42%.
 
Dan Jørgensen, Danish Minister of Climate, Energy and Utilities, expressed his happiness with the new energy agreement, saying “We need to speed up the fight against climate change. Therefore, on behalf of the Government of Denmark, I am very pleased to be establishing this cooperation on renewable energy with Egypt. The Egyptian government’s strong dedication to renewable energy, combined with excellent wind and solar resources, offers Egypt a great opportunity to become a regional, green pioneer. I am delighted that Denmark will be working closely alongside Egypt on this journey.” 
 
For his part, Danish Ambassador to Egypt, Svend Olling, praised the cooperation between Egypt and Denmark, which aims to confront the increasing challenges in the field of energy and the environment. He notes that Denmark is a leading global partner in the field of renewable energy and green transformation and he looks forward to working with Egypt under the signed agreement to support the country’s green transition.
 
The cooperation between the government of the Arab Republic of Egypt and Denmark dates back to the year 1969, amounting to about 560 million dollars in several different fields, including new and renewable energy, water and sanitation, environment, culture and housing.

Comments

0

Leave a Comment

Recommend Article

Be Social