British Ambassador to Egypt Gareth Bayley. File/UK in Egypt
Bayley made the remarks while speaking on the sidelines of an event organised by the British Embassy in Cairo and the British Council in Egypt on Wednesday.
Egypt’s status is evident in construction of the Benban Solar Park, the wind farm in the Gulf of Suez area, and the production of green hydrogen, Bayley told MENA while speaking on the future of the renewable energy in Egypt and the government's efforts in this respect.
Egypt has implemented multiple renewable energy projects over the past decade, including opening the Benban Solar Park in 2019, which houses more than 32 photovoltaic energy plants with a total capacity of about 1,465 megawatts.
British companies are keen on massively investing in the Egyptian renewable energy and green transition market, affirmed the ambassador.
In separate remarks to reporters at the event, Bayley reiterated Britain's support for Egypt in the field of green finance and told reporters that there are more than 10 British companies eager to sign agreements with the Egyptian government in the field of green hydrogen.
He added that London had signed a guarantee agreement with the African Development Bank to provide more than $2 billion over two years to support projects in Africa, including Egypt.
The UN Climate Change Conference (COP27), which Egypt is preparing to host in Sharm El-Sheikh this November, represents a golden opportunity for the country to lure green investments, Bayley said.
The government has affirmed that the conference will be an opportunity for achieving cooperation and partnership and broadening the scope of collective green recovery.