Shakir: Using various mechanisms to encourage the private sector to invest in the energy field
Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy, said that Egypt has taken many measures to create a suitable environment for energy transfer in Egypt.
He added that the energy sector is working on adopting various technologies that help in the way energy is transferred, such as moving towards the use of hydrogen as a source of renewable energy sources, increasing the participation of renewable energies in the energy mix and using various mechanisms to encourage the private sector to invest in this field.
During his participation in the opening session of the first dialogue of the Energy Transition Council (ETC), Shaker explained that the energy transition is a path towards the transformation of the global energy sector from relying on fossil fuels to zero carbon.
He pointed out that this requires the disposal of carbon in the energy sector, and the adoption of many urgent measures on a global scale to reduce carbon emissions and mitigate the effects of climate change.
He said that this can be reached through a number of measures represented in reducing energy costs generated from renewable energies, achieving development in energy and electricity storage technologies, increasing the use of electric cars and smart grid technology, and regional and international electrical connectivity in order to benefit from all forms of renewable and clean energy. .
Geoffrey Adams, the British ambassador to Egypt, said that Egypt had introduced several reforms in the energy sector to encourage investments in generating electricity based on renewable energy, including the establishment of five new renewable energy stations in the Gulf of Suez and Aswan. He added, “We are proud to support Egypt’s transition to clean energy … and the establishment of these dialogues, and the development of an ambitious program of action on clean energy and climate change, which will not only attract new climate financing, but also help Egypt to rebuild better and stronger.”
He explained that the United Kingdom and Egypt have already cooperated in many clean energy projects, the latest of which was the listing of the first green sovereign bonds in Egypt last year, valued at $ 750 million, on the London Stock Exchange, which would help finance projects in a number of vital areas, including Renewable energy, clean transportation, sustainable water and wastewater management, pollution reduction and control.
The article, Minister of Electricity: Egypt has taken many measures to create a suitable environment for energy transmission. It was written in Al-Borsa newspaper.