Egypt partners Denmark to enhance investments in green energy

EGYPT – The Government of Egypt has signed an energy partnership with the Danish government with the aim of transforming the energy sector through enhanced investments in clean energy.

The agreement created the Egyptian-Danish Energy Partnership and was signed by the Minister of International Cooperation Dr. Rania Al-Mashat, and Minister of Electricity and Renewable Energy Dr. Mohamed Shaker.

The government of Denmark was represented by the Energy Agency of the Danish Ministry of Climate, Energy and Utilities.

 Harnessing the power of partnerships, Al Mashat said that the new partnership agreement aims to create a platform to push for closer cooperation between Egyptian and Danish institutions through a strategic cooperation in the energy field beginning from this year.

She added that the agreement aims to consolidate commercial relations and exchange experiences in the field of technology and clean energy between the two countries.

 The agreement comes within the framework of the “Global Partnerships for Effective Development Cooperation” – a multi-stakeholder platform between multilateral and bilateral development partners launched by the ministry last April.

The platform aims to ensure that development interventions are prioritized and are strongly aligned to maximize impact and achieve sustainability.

 It also aims to accelerate the implementation of Egypt’s sustainable energy strategy 2035, which was adopted by the government in October 2016.

Egypt’s energy strategy 2035, seeks to increase the share of renewable energy to more than 42%.

The strategy aims to improve financial sustainability and the operational efficiency of the energy sector, as well as ensure access to affordable, reliable, sustainable and modern energy.

For his part, Dr. Muhammad Shaker, Minister of Electricity and Renewable Energy, said that the ministry will seek to form a joint committee with the Danish side.

He explained that the committee will serve as a forum for comprehensive strategic dialogue between Egypt and Denmark to discuss cooperation in the energy field, and reach decisions on the strategic cooperation program between the two countries.

 He further stressed that the agreement signed with the Danish side supports the state’s capabilities to accelerate the pace of Egypt’s green transformation.

Cooperation between the government of the Arab Republic of Egypt and Denmark dates back to the year 1969.

According to available data, the cooperation is estimated to amount to about US$560 million in several different fields, including new and renewable energy, water and sanitation, environment, culture and housing.

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