Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy, revealed that the expansions that took place in the national electricity network had a significant impact on the quality of service provided to the Egyptian citizens.
Minister of Electricity and Renewable Energy Mohamed Shaker stated Tuesday that the draft agreement has been finished.
He noted that the fund is willing to visit Cairo in September to inspect the fund’s projects in Egypt as well as inking a number of partnerships between Egyptian and Saudi companies.
Those are in the sectors of infrastructure, logistics, port management, food industries, pharmaceuticals, traditional energy, renewable energy, e-payment, digital financial and information solutions.
Five Egyptian ministers visited London last month discussed promotion of green investments, and the development of economic zone of the Suez Canal.
Egyptian Minister of Environment Yasmine Fouad met Friday with her Dutch counterpart Vivianne Heijnen to discuss mechanisms of joint cooperation in the issues of climate and biodiversity, on the sidelines of the Stockholm +50 Conference.
Egypt will launch Thursday the National Strategy for Climate Change 2050 in an event that will be attended by Prime Minister Mostafa Madbouli and a large number of ministers.
The implementation of a solar cell plant in Zafarana area to produce electricity with a capacity of 50 MW is underway, according to the New and Renewable Energy Authority.
The duration of those bonds is 19 years.
Many MoUs with global and international firms were signed in less than a year.
The Egyptian Ministry of Electricity and Renewable Energy, represented by the Nuclear Power Plants Authority, is preparing to start work on pouring concrete for the first nuclear reactor to generate electricity with a capacity of 1,200 megawatts at the Dabaa plant.
The future of renewable energy in Egypt is far more promising than that in Europe if the human factor from laws and decision makers will earnestly pave the way since nature gives the country all the ingredients for success.
The agreement was signed by Ayman Soliman, CEO of the Sovereign Fund of Egypt, and Telf Thorlevson, CEO of the Norwegian Investment Fund, and Raymond Carlsen, CEO of the Norwegian company Scatec..
In press statements Thursday, Shaker praised close and strategic relations binding Egypt and the UAE and their two peoples, in addition to the feelings of cordiality and fraternity Cairo has for Abu Dhabi.
Shaker said the Egyptian electricity sector has succeeded in completing many projects and programs in cooperation with the bank.
The ambitious strategy to increase the supply of electricity generated from renewable energy sources to 42 percent by 2035 will put Egypt in a leading position regionally and globally
Egypt has a pioneering experience in implementing a solar power plant in Uganda under the supervision of the Egyptian Ministry of Electricity and Renewable Energy, Gendy said in an interview with Extra News.
Egypt is accelerating the transition towards a green economy through development financing agreements worth $230 million in environment
The British ambassador in Cairo Gareth Bailey affirmed that European investors see good opportunities in Egypt to invest in renewable energy, whether through the sun, wind or green hydrogen.
Wind energy projects in the Gulf of Suez region on the Red Sea coast accounted for 78 percent of these investments, and 22 percent for solar energy projects, according to a statement by the Ministry of Electricity, Wednesday.