ArabFinance: Egypt’s Energy Regulatory Authority (EERA) and the British Office of Gas and Electricity Markets (OFGEM) have signed a joint statement of intent for cooperation in reforming renewable energy regulations, according to an official statement on July 5th.

The document was signed during the meeting of the UK-Egypt Association Council bebtween Minister of Foreign Affairs Sameh Shoukry and the Secretary of State for Foreign, Commonwealth, and Development Affairs Liz Truss in London.

Both ministers explored opportunities for economic cooperation between Egypt and the UK. The two agreed to work on growing bilateral trade and investment.

Cooperation between the two countries has been successful and comprised a series of milestones including the two-line Cairo Monorail project and the opening of a new 66 megawatts (MW) solar farm with $80 million worth of investments.

The fruitful cooperation between London and Cairo also included the finalization of a $100 million acquisition of Alfa Medical Group by the British Investment International (BII) and an investment of $325 million for the launch of the Lekela wind farm.

 

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