CAIRO – Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker has discussed in a meeting with Inmaculada Martinez, the head of the European Investment Bank’s public sector operations unit for Mashreq, ways of fostering cooperation between the electricity sector and the bank.
During the meeting, the two sides probed joint cooperation in the areas of new and renewable energy, green hydrogen and electricity linkage projects, according to a statement released by the Electricity and Renewable Energy Ministry.
The minister commended the distinguished ties between the Egyptian electricity sector and the EIB, with the bank funding several projects and programs in the country.
Shaker said his ministry establishes partnerships with global companies to carry out trial projects for producing green hydrogen in Egypt as a first step towards expansion into this field.
In this regard, the ministry had signed 23 memorandums of understanding with global companies to produce green hydrogen, on the fringe of the UN Climate Change Conference, COP27, he said.
The minister stated Egypt looks forward to completing the green energy corridor project that will benefit all African states.
Shaker explained Egypt is interested in electricity interconnection projects with neighboring countries to become a regional hub for exchanging energy with European, Arab and African countries.
On her part, the EIB official said the bank desires to enhance cooperation with the Egyptian electricity sector on projects aimed at increasing the contribution of renewable energy sources to generating electricity, as well as green hydrogen projects.
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