UAE’s KK Power International mulls investment opportunities in Egypt

UAE’s KK Power International mulls investment opportunities in Egypt

UAE-based KK Power International is considering investment opportunities in Egypt across the fields of electricity, new and renewable energy, and green hydrogen and ammonia production, according to a statement by the Ministry of Electricity and Renewable Energy on August 23rd.

Egyptian Minister of Electricity Mohamed Shaker has met with the Chairman of KK Power Taj Aldin Seif to discuss ways to reinforce cooperation between the Emirati company and the electricity sector in Egypt.

During the meeting, Shaker praised collaboration with Emirati companies as trusted partners with great expertise in power projects.

The electricity sector in Egypt receives unprecedented support from the state’s leadership, the minister stressed, adding that the government deals with electricity as a main priority for development across economic and social fields.

Several actions have been taken to encourage the private sector to participate in the new and renewable projects, mainly wind energy and solar power, Shaker highlighted.

He added that Egypt is collaborating with a global entity to set a strategy that targets boosting the contribution of renewable energy to the electricity mix to over 42% by 2035.

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