Korea, Egypt explore expanded cooperation in electricity and renewable energy

CAIRO - 8 October 2024: Ambassador of the Republic of Korea to Egypt, Kim Yonghyon, met with H.E. Mahmoud Esmat, Egypt's Minister of Electricity and Renewable Energy, to discuss ways to enhance bilateral cooperation in the electricity and renewable energy sectors.

 

Ambassador Kim highlighted the crucial role of the Ministry in Egypt’s economic development and public welfare through energy policy and power supply. He acknowledged the successful ongoing cooperation between Korea and Egypt in nuclear power and renewable energy projects and expressed his desire to expand this collaboration into various other fields, including energy storage systems (ESS), smart grids, and energy efficiency initiatives.

 

Ambassador Kim emphasized the significance of the El Dabaa nuclear power project, noting that it would play an important role in Egypt’s energy diversification strategy and efforts to combat climate change. In this regard, he applauded the close cooperation and partnership between the the participating Korean company and the Ministry of Electricity and Renewable Energy.

 

In the green energy sector, Ambassador Kim highly appreciated the Egyptian government's efforts to become a global leader in renewable energy and green hydrogen. He highlighted Korean companies' world-class technology and expertise in these areas and mentioned renewable energy, green hydrogen, and green ammonia projects being developed by Korean firms in the Ain Sokhna region. He expressed optimism for the successful progress and further expansion of green energy cooperation. Additionally, he noted that energy is a key focus of the Korean government’s development cooperation, and projects funded by Korea’s Economic Development Cooperation Fund (EDCF) could also be explored.

 

Minister Esmat recognized Korea as a vital partner in the power and energy sectors, commending its technological advancements and experience. He expressed optimism for future collaboration, particularly in renewable energy and green hydrogen, and emphasized the importance of successful implementation of ongoing projects and strengthening the energy partnership between the two nations.