Sisi orders expediting implementation of green energy projects with Australia’s FFI

Ahram Online , Saturday 10 Sep 2022

Egypt’s President Abdel-Fattah El-Sisi has ordered providing all the necessary facilities to expedite the implementation of the green energy projects implemented jointly with Australia’s Fortescue Future Industries (FFI).

Australia s FFI
(From R-L) Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla and Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker and Egyptian President Abdel-Fattah El-Sisi with FFI Chairman Andrew Forrest on Saturday 10 September, 2022. Photo courtesy of Egyptian Presidential Spokesman Facebook page.

 

El-Sisi made the remarks on Saturday as he received FFI Chairman Andrew Forrest, presidential spokesman Bassam Rady said in a statement.

El-Sisi highlighted the importance of benefiting from the Australian energy company’s extensive expertise in green energy, as Egypt attaches importance to keeping pace with the international orientation toward maximising the use of renewable energy.

This also comes within the framework of the Egyptian national strategy to boost the supply of electricity generated from renewables in light of the state’s keenness to diversity the sources of electricity and benefit from the country’s natural resources.

Under its Integrated Sustainable Energy Strategy (ISES), Egypt aims to increase the supply of electricity generated from renewable sources to 42 percent by 2035.

The meeting followed up on cooperation between FFI and the Egyptian Ministry of Electricity and Renewable Energy in the field of green hydrogen and green ammonia, including a project to produce 9.2 GW of electricity from renewable energy, the spokesman said.

The meeting also followed up on localising industries related to generating power from wind turbines and solar cells, the spokesman added.

For his part, Forrest stressed FFI’s keenness to cooperate with Egypt in the field of producing green energy and benefiting from green hydrogen as a source of clean energy.

Minister of Electricity and Renewable Energy Mohamed Shaker, Minister of Petroleum and Mineral Resources Tarek El-Molla, and Moataz Kandil, regional director of FFI in the Middle East and North Africa, attended the meeting.

Cooperation with Scatec

Separately, El-Sisi also discussed cooperation with Norway’s renewable energy solutions provider Scatec in the renewable energy field in a meeting today with the company’s CEO Terje Pilskog.

The meeting discussed establishing a project to generate 3 GW of electricity from wind within Egypt’s national strategy to generate clean energy, the spokesman said.

For his part, Pilskog stressed the importance Scatec attaches to cooperation with Egypt in renewable energy, especially in light of Egypt’s preparations to host the 2022 UN Climate Change Conference (COP27) in November.

This is in addition to the fact that Egypt is rich with renewable energy sources, represented in sun and wind, which qualifies the country to become one of the largest renewable energy producers worldwide and hence enhances its promising investment opportunities in this regard, Pilskog added.

Egypt has accelerated its plans for increasing reliance on clean energy and transition to green energy in cooperation with international partners, especially ahead of COP27, slated for 6-18 November in Sharm El-Sheikh city.

Green investments in Egypt will hit 50 percent of the total public investments by 2024/2025, up from 40 percent currently, El-Sisi said during the Egypt-International Cooperation Forum (Egypt-ICF) on Wednesday.

A June report by the US-based Global Energy Monitor (GEM) showed Egypt is at the top of the Arab region’s countries in combined utility-scale solar and wind generation at 3.5 GW in total.

Egypt also aims in the coming years to reduce carbon emissions, promote the use of renewable energy sources, and use alternative energy forms including green hydrogen – as part of the National Climate Strategy 2050 announced by the government in May.

Egypt is pursuing green hydrogen and ammonia storage projects in cooperation with international partners amid the country’s plans to become a regional energy hub and its prioritisation of localising green hydrogen production.

Egypt seeks to attract foreign investments into green hydrogen production in order to also become a transit route for clean energy to Europe.

In cooperation with Scatec, Egypt is set to have its first green hydrogen plant with 100 MW capacity in the Suez Canal Economic Zone (SCZone) at a cost of $5 billion.

The project, expected to start production in 2025, will mainly export green ammonia to European and Asian markets, according to a statement by Scatec on 10 March.

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