Egypt and Denmark deepen renewable energy partnership | Omar El-Huni

Egypt and Denmark deepen renewable energy partnership | Omar El-Huni

LONDON--Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker met with Danish Ambassador to Egypt Svend Olling to discuss improvements to investment opportunities and cooperation in their allied field of renewable energy.

The partnership is a result of an agreement between Egypt's ministries of international cooperation and electricity and the Danish ministry of climate, energy and utilities' energy agency. The Egyptian-Danish Energy Partnership Program (2019-2022) aims to push Egypt's green transformation forward while also investing in a renewable future.

Shaker stated that Egypt's government has worked hard with its development partners to overcome challenges in the electricity sector.

Among the state's strategic aims, he said, is drawing benefits from Egypt's natural resources, including new and renewable, as well as increasing renewable energy's share in the electricity system. Egypt aims to increase the share of renewable energy in the nationwide electricity network to 20% by 2022 and 42% by 2035, elevating it from 5% in 2014.

Shaker said one reason Egypt is adopting a large-scale programme is to encourage the private sector to take part in initiatives that can draw investors to Egypt. Investment confidence in the country's electricity and renewable energy sector has already increased as a growing number of local and foreign private