Representatives of UAE’s KK Power International have expressed interest to invest in renewable energy and green hydrogen in Egypt during the coming months, Egyptian local media reported.
During a recent meeting with Egyptian officials, Taj El-Din Seif, chairperson of KK Power, expressed his aspiration to enhance bilateral cooperation with Egypt in the areas of renewable energy, green hydrogen and green ammonia.
He stressed that the government’s direction in the coming period includes opening the doors for private companies to implement green projects in conjunction with hosting the upcoming climate summit in Sharm El-Sheikh.
Moataz Kandil, regional director of FFI in the Middle East and North Africa, said that the legislation and regulations governing investment in green energy in Egypt contributed to achieving a major leap in clean energy projects in Egypt, and the company seeks to cooperate and invest in renewable energy projects and green hydrogen production.
Egypt has expressed interest to enhance cooperation and exchange experiences in all fields, and to attract and encourage investment in Egypt, especially the participation of the private sector in various projects in the electricity sector.
Clean energy top priority for Egyptian officials
During the meeting, Mohamed Shaker, Egypt’s Minister of Electricity, noted that the electricity sector receives strong support from the government, which has listed electric energy as top priority.
He pointed to the great challenges that Egypt faced earlier in providing energy to the local market. However, thanks to political stability, Shaker said that Egypt has taken a number of reform measures and policies in the energy sector within the framework of a new strategy that guarantees supply security, sustainability and rational management.
The minister indicated that many measures have been taken to encourage the participation of the private sector in new and renewable energy projects, in which Egypt enjoys a clear richness in its sources, which mainly include wind and solar energy.
