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Wednesday, 13 November 2019

Egypt, US discuss bolstering cooperation in energy sector

MENA , Monday 19 Nov 2018
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Egypt's Electricity Minister Mohamed Shaker discussed on Monday fostering cooperation in the electricity sector with Assistant Secretary for the Bureau of Energy Resources (ENR) at the US Department of State Francis R. Fannon and an accompanying delegation.

The meeting is part of efforts by the electricity ministry to attract more foreign investments in various energy projects, according to a statement by the ministry. 

Shaker reviewed steps taken by the ministry to secure the electricity supply for citizens nationwide as well as challenges the ministry has faced over the past few years. 

During the meeting, the minister noted that Egypt added 6,882 megawatts to the national power grid by the end of 2015, and has launched electricity projects to generate an additional 3,250 megawatts under its five-year development plan. 

The electricity sector aims to generate 20 percent of the energy on the national electricity grid from renewable sources by 2020, the minister said.

Shaker also said that Cairo has introduced major legislative reforms to create an appropriate environment for investment. 

He also lauded the fruitful cooperation with US companies, expressing his interest in broadening cooperation, especially in establishing renewable energy projects. 

Fannon hailed the efforts exerted by the ministry to improve the country's energy infrastructure and lure investments for the private sector, expressing interest in boosting cooperation with Egypt in numerous domains, including in solar and wind energy projects.

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