Arab FinanceDr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Terje Bielskog, CEO Norwegian SCATK, during the Hamburg Sustainability Conference.
The Minister of Planning, Economic Development and International Cooperation stressed the close economic relations between the Arab Republic of Egypt and the Kingdom of Norway, which extend to decades of joint cooperation, in addition to constructive cooperation with the private sector.
Dr. Rania Al-Mashat also praised the efforts of the SCATEC company in Egypt, to expand renewable energy projects, support the state’s efforts in the field of green transformation, and implement nationally determined contributions, pointing out that the structural reforms that Egypt has implemented, the development of clear strategies for expanding clean energy, and the launch of the strategy The National Green Hydrogen Project has encouraged the private sector to pump investments into these projects.
She explained that SCATEC was one of the companies that contributed to the implementation of the Benban Solar Energy Complex, which is one of the largest projects of its kind in the world, in addition to its recently launched projects to produce green hydrogen, which is one of the products that push towards a sustainable future, and the world relies on it a lot. To shift to renewable energy sources.
The Minister of Planning, Economic Development and International Cooperation also stressed the importance of international partnerships, soft financing and grants made available by development partners, which open the way and encourage private sector investments, referring to the signing that took place during the activities of the Hamburg Sustainability Conference between SCATEC and the hydrogen mechanism PTX, to provide a grant worth 30 million. Euros for green hydrogen project in Egypt.
She stated that all these efforts push the state to achieve its ambition of transitioning to clean energy, reaching the percentage of renewable energy to 42% of total energy by 2030, and implementing nationally determined contributions, pointing out that the Ministry of Planning, Economic Development and International Cooperation is working to support international partnerships and mobilize local funds. And external affairs, to enhance green transformation efforts and increase the percentage of environmentally friendly projects.
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