Mohamed Shaker, the Minister of Electricity and Renewable Energy of Egypt, sat down with Svend Olling, the Danish Ambassador to Egypt. The meeting was about renewable energy which is a sector that the two countries are already allies. Its primary focus was discussing how the two counties could improve the sector’s cooperation and investment opportunities.
It is a partnership that comes following an agreement. Two ministries of Egypt, energy and international cooperation and the ministry of climate, energy and utilities’ energy agency of Denmark got into a contract. The involved parties dubbed the partnership The Egyptian-Danish Energy Partnership Program (2019-2022). It aims to assist in Egypt’s green transformation. It would also help the state develop investments revolving around renewable energy since it is the future.
According to Shaker, the Government of Egypt has been putting various efforts, including collaborations with various people, to end issues in the energy industry. The country plans to benefit to the maximum from its natural resources. It also intends to increase the contribution of renewable energy towards the total power consumed in Egypt. In 2014, renewable energy’s share was 5%. The state wants it to have risen to 20% and 42% by 2020 and 2035, respectively.
He added that Egypt aims at luring more investors in its country. It plans to encourage the private sector to come up with initiatives that attract investors. The best way it finds fit to achieve that is the adoption of a large-scale project. So far, it is working, and the confidence to invest in Egypt’s renewable energy and electricity industry is improving. Both locals and foreigners are investing in various projects, including the development of wind turbines, hydropower facilities and solar power plants.
Shaker says that most investors feel that Egypt is a vital getaway to Africa. He also says that Denmark doesn’t plan to end the collaboration anytime soon. On the contrary, Denmark intends to improve the existing associations and even start new ones. He believes in the possibility of Egypt being a regional energy center and an energy exporter to Europe one day.
As far as Olling is concerned, Denmark has nothing to complain about regarding the relationship it has with Egypt. He also wishes that it would become even stronger. Equally important, he appreciates Egypt’s efforts and role in the development of its renewable energy field.
According to Egypt’s ministry of international cooperation, it is not the first time Egypt and Denmark are collaborating. As a matter of fact, they had a partnership as early as back in 1969. The partnership saw an investment in renewable energy, sanitation, water, environment, housing and culture worth $560 million. The collaboration back then was with thehttps://globeoftech.com/