Denmark looks forward to increasing cooperation with Egypt in energy sector

Lamis ElSharqawy, Monday 7 Dec 2020

'Investment in Egypt is a gateway to Africa,' said Danish Ambassador to Egypt Svend Olling in a meeting with Minister of Electricity and Renewable Energy Mohamed Shaker

Denmark expressed its interest in increasing cooperation with Egypt in the electricity sector during a meeting between Minister of Electricity and Renewable Energy Mohamed Shaker and Danish Ambassador to Egypt Svend Olling in Cairo on Monday, a cabinet statement read.

The meeting focused on ways of cooperation in the fields of electricity and renewable energy.

Olling hailed Egypt’s wide expertise in the electricity and renewable energy sectors and the successes achieved by many Egyptian companies working in this field.

The ambassador highlighted the interest of international bodies in making investments in Egypt as a gateway to Africa.

Shaker praised the political relations between Egypt and Denmark and welcomed cooperation with Danish companies, describing them as “reliable partners with great experience in electricity projects.”

Egypt aims to increase the share of renewable energy out of total energy sources to 42% by 2035, Shaker announced.

Shaker emphasised that the Egyptian government has exerted great efforts to overcome the difficulties facing the electricity sector lately with the support of partners in development.

Shaker said that Egypt was able to take a number of measures and reform policies in the electricity sector within the framework of a new strategy that guarantees abundant supplies and sustainability.

Egypt has witnessed an investment boom in the energy sector, according to Shaker, through foreign and local private sector investors who participated in renewable energy projects thanks to the government’s efforts in establishing mechanisms, such as auctions, to encourage investment in the sector.

Shaker emphasised that the ministry is interested in electrical interconnection projects with neighboring countries, and exporting electricity to Europe, aiming to turn Egypt into an energy hub.

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