President Abdel Fattah El-Sisi held a gathering with Terje Pilskog, Norway’s Scatec CEO, and Lei Zhang, the Chairman of the Chinese language Envision Vitality, to debate increasing renewable vitality investments and inexperienced hydrogen collaboration, in accordance with a presidential assertion.
The President highlighted that strengthening partnerships with main worldwide firms is important to fulfill the rising home and international demand for renewable vitality technology. This technique goals to safe and improve vitality provide chains whereas transitioning towards a sustainable inexperienced economic system.
Discussions centered on Egypt’s strategic aim to develop into a regional hub for clear vitality by attracting overseas direct funding (FDI) into the renewables sector. El-Sisi emphasised the state’s dedication to localizing expertise and rising native content material in main vitality tasks. He famous that Egypt possesses aggressive benefits and a strategic location that helps the export of low-carbon merchandise.
Officers from each firms confirmed their dedication to enhancing investments within the Egyptian market, citing an bettering enterprise atmosphere and efficient cooperation from related authorities. The executives expressed appreciation for the help supplied by the Egyptian state in renewable vitality tasks and wind turbine manufacturing. They additional famous their intent to broaden partnerships in Egypt to help the transition towards a inexperienced economic system.
Moreover, the assembly reviewed Scatec’s funding plans in vitality infrastructure, significantly in photo voltaic vitality, and electrical energy storage programs to make sure secure, clear energy and wind energy technology. President El-Sisi affirmed that Egypt prioritizes localizing expertise and rising native content material in mega tasks, alongside strengthening partnerships with international leaders to fulfill rising home and worldwide demand for renewable vitality and to safe provide chains.
Scatec has expanded its presence in Egypt’s clear vitality sector by way of a collection of photo voltaic and wind energy investments. The corporate’s portfolio features a vital contribution to the Benban Photo voltaic Park. Moreover, Scatec lately launched the Obelisk mission in Nagaa Hammadi to additional its exploration and manufacturing (E&P) of renewable assets.
Envision Vitality is a renewable vitality tools manufacturing firm. It operates throughout three major sectors: good wind generators, vitality storage, and inexperienced hydrogen options. The corporate is supplying generators for ACWA Energy’s 1.1 GW Gulf of Suez wind farm and partnering on a inexperienced ammonia facility in Suez, advancing Egypt’s renewable and hydrogen ambitions.
