PHOTO
Arab Finance: President Abdel Fattah El-Sisi met with Terje Pilskog, CEO of Norway-based renewable energy company Scatec, and Ken Shaw, Chairman of the Board of Directors of Envision Energy, a wind turbine manufacturer, to discuss expanding cooperation in renewable energy projects in Egypt, as per a statement.
El-Sisi underlined the government’s focus on attracting foreign direct investment in renewable energy, citing Egypt’s competitive advantages and strategic location, which positions it as a potential regional hub for clean energy.
He also stressed the state’s priority to localize technology and increase the local component in major renewable energy projects.
Officials from Scatec and Envision Energy affirmed their commitment to expanding their investments in Egypt, pointing to the improving business environment and effective coordination with relevant authorities.
They expressed appreciation for the support provided by the Egyptian government in renewable energy projects and the wind turbine industry, and said they are keen to broaden partnerships that support the transition to a green economy and sustainable development.
They also highlighted Egypt’s strong renewable energy potential and strategic location, which enhances opportunities to export energy and low-carbon-footprint products.
Furthermore, the meeting reviewed ways to strengthen joint cooperation in renewable energy and green investment within the framework of the state’s strategy to attract high-quality investments and deepen partnerships with leading international companies.
Participants emphasized the importance of continued cooperation in the coming phase to reinforce Egypt’s position as a destination for sustainability and green transformation projects and to attract more high-value-added foreign direct investment.
The discussions also covered Scatec’s plans to develop energy infrastructure in Egypt, particularly in solar power and electricity storage systems, alongside wind energy generation.
El-Sisi reiterated the state’s commitment to localizing technology, increasing local content, and strengthening partnerships with global companies to meet growing domestic and international demand for renewable energy and to secure and enhance related supply chains.
