Advancing Renewable Energy: Collaboration bet. Egypt, Japan

Cairo - 26 September 2024: The CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Haiba, engaged in discussions with a delegation representing 24 Japanese companies active in renewable energy. The focal point was the localization of green energy technology within Egypt.

Haiba emphasized that the Egyptian government has completed the identification of necessary sites and investments essential to realize its objective of incorporating approximately 30 gigawatts of new renewable energy capacities.

Several companies have already initiated investments and infrastructure construction to support this collective goal.

Underlining the broader scope, Haiba highlighted that Egypt’s targets in the renewable energy sector extend beyond mere energy production.

They encompass a strategic emphasis on industrial and commercial advancement. The government’s ambition is to domesticate the technology involved in manufacturing turbines, panels, and other essential components for solar and wind power plants.

Furthermore, efforts have been directed towards reshaping the legislative and procedural landscape to attract green hydrogen projects. This includes the enactment of a law regulating green hydrogen initiatives and activities, alongside the launch of a national strategy for low-carbon hydrogen.

Nobutaka Maekawa, the Executive Vice President of the Japan External Trade Organization (JETRO), expressed the strong interest of the Japanese business community in investing in Egypt’s renewable energy sector.

Takuji Asano, CEO of Sojitz Egypt, a specialized energy solutions company, outlined the company’s forthcoming strategies to bolster infrastructure development within Egypt’s renewable energy sector. This groundwork aims to pave the way for substantial investments from Japan in the sector.

Kenny Kitamura, representing the Japan Bank for International Cooperation in the Middle East region, reaffirmed the bank’s dedication to implementing financing plans for green ammonia and green hydrogen projects within Egypt.