COP27 significant opportunity to lure green hydrogen investments: Egypt electricity minister

MENA , Monday 7 Nov 2022

Minister of Electricity and Renewable Energy Mohamed Shaker said the ongoing global climate summit (COP27), which kicked off on Sunday in the Red Sea city of Sharm El-Sheikh, is a significant opportunity for luring new clean energy and green hydrogen investments.

Mohamed Shaker
Minister of Electricity and Renewable Energy Mohamed Shaker

 

During the global event, Egypt will be working towards channeling new investments and signing memorandums of understanding (MoU) with world leading companies involved in this sector, Shaker told the Egyptian news agency MENA at the Green Zone of COP27 in Sharm El-Sheikh on the sidelines of the event.

He noted that the ministry's optimal solution to cutting carbon emissions is to rely on renewable energy from solar and wind power, as well as green hydrogen, as clean sources of energy.

Shaker indicated that the country's energy strategy aims at increasing the supply of electricity generated from renewable sources to 42 per cent by 2035.

The COP27 Green Zone was inaugurated by Prime Minister Mostafa Madbouly on Sunday, with the aim of promoting dialogue and awareness via various events with the participation of youth, business community, civil society, academia and artists.

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