Arab Finance: Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, met with Engineer Zhou Hong Jang, CEO of China Energy International, And the accompanying delegation, in order to discuss aspects of cooperation The partnership in the fields of renewable energy, especially solar energy, and the transfer and localization of the technology that the Chinese company owns in the manufacture of solar cells and energy storage batteries.
The meeting discussed the company’s investment activity outside China, and the transfer of its headquarters in northern and western Africa to Cairo, the Chinese company’s plan to localize the solar cell industry and energy storage batteries in Egypt, in light of the meeting that took place on the sidelines of the Energy Ministers meeting during the Shanghai Cooperation Conference, and the meeting discussed the company’s desire to establish solar energy projects with a capacity of 1000 megawatts and a 600 -megawatled batteries storage.
As well as a separate project to store energy with a capacity of 1000 megawatts, as well as the technology owned by the company, cooperation and partnership models applied in foreign investments, the size of the Egyptian market and the projects that are being implemented within the framework of the national energy strategy, and the procedures and facilities provided by the state were reviewed with the aim of supporting technology transfer and the localization of industry.
Dr. Mahmoud Esmat stressed that there is a work strategy that is applied to localize the industry, transfer modern technology and provide all aspects of support in this framework, noting that the electricity and energy sector has gone a long way in order to become Egypt as a regional center for the electrical missions industry, and preference was granted to the local product in implementing the national energy strategy projects and support and modernization of the unified network on all efforts.
Stressing that there are requirements and controls that are being worked on to increase the percentage of the local component in renewable energy projects to 60%, explaining the work to attract more foreign investments, and to open the way for companies that have technology within the framework of the constant endeavor to update and develop the unified electricity network.
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