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Arab Finance: The Egyptian Ministry of Electricity is considering reinforcing cooperating and investment opportunities with Alcazar Energy, according to an official statement on June 5th.
The two parties mulled over collaboration in the fields of electricity, new and renewable energy, and green hydrogen.
Egypt targets boosting the contribution of renewable energy to the state’s electricity mix to 42% by 2035, Minister of Electricity Mohamed Shaker said in his meeting with the Co-founder and CEO of Alcazar Energy Daniel Calderon.
The ministry has an ambitious plan for raising the contribution of renewable energy to reach approximately 10,000 megawatts (MW) in 2023, Shaker added.
For his part, Calderon expressed his interest in straitening cooperation with the Egyptian government within various fields, particularly solar energy and wind farms, as well as clean energy resources such as green hydrogen, along with water desalination using renewable energy.
