UK companies eager to invest in renewable energy in Egypt: British Amb.



Thu, 09 Jun 2022 - 10:40 GMT


Thu, 09 Jun 2022 - 10:40 GMT

UK Ambasador to Cairo Gareth Bailey - photo via UK gov. website

UK Ambasador to Cairo Gareth Bailey - photo via UK gov. website

CAIRO – 10 June 2022: Five Egyptian ministers visited London last month discussed promotion of green investments, and the development of economic zone of the Suez Canal, said UK Ambasador to Cairo Gareth Bailey.


Bailey further added that the Egyptian delegation also talked, during the visit, the renewal of the Zafarana wind farm next year in cooperation with two British companies.


He said, during press statements on the sidelines of the celebration of the green partnership with Egypt at the embassy, ​​that the Minister of Electricity Mohamed Shaker held extensive discussions with the University of Sheffield on the scientific potential of producing green hydrogen.


He referred to the holding of consultations between the ministerial delegation and the British company ITM, which produces equipment for desalination.


As 150 days remaining until the COP27 climate conference convenes in Egypt, Foreign Minister Sameh Shoukry, head of the conference, met with British Minister of State Alok Sharma, head of COP26 conference, to officially hand over leadership in the German city of Bonn, confirming the cooperation of the two countries to make the conference a success at the official level.


He referred to Britain's support for Egypt in the field of green finance, and announced that London had signed a guarantee agreement with the African Development Bank to provide more than two billion dollars over two years to support projects in Africa, including Egypt.


Bailey added that “there is a British program to accelerate green investments through which projects are being sought. investable in sustainable energy fields.”


He stressed the great interest of British companies to invest in Egypt in the field of renewable energy, describing Egypt as the great power in the field of renewable energy, through solar energy, wind energy and green hydrogen, stressing that the COP27 conference represents a golden opportunity.


“Commercial and investment opportunities are abundant in Egypt to attract green investments, and introduce the world to its capabilities through highly educated youth, especially since Egypt has all the ingredients for this, such as the vast desert lands and the permanent winds in the Gulf of Suez,” he said.


Ambassador Bailey pointed out that there are 10 British companies eager to sign agreements with the British government in the field of green hydrogen.



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