Arab Finance: Prime Minister Mostafa Madbouly met with Song Hailing, Chairman of China Energy, to discuss accelerating renewable energy localization initiatives in Egypt, as per a statement.

The talks focused on localizing the production of solar panels, storage batteries, and wind towers, with Madbouly emphasizing that the Egyptian government is prepared to offer all necessary incentives to support these projects.

Madbouly also highlighted the importance of renewable energy in Egypt's development strategy, expressing hope that China Energy would take swift action on its planned projects, particularly in the solar and green hydrogen sectors.

For his part, Hailing confirmed the company’s commitment to expanding its role in Egypt, noting that China Energy has 12 ongoing projects in the country valued at $2 billion.

He pledged to prioritize the establishment of new energy factories in Egypt, including a green ammonia production facility, and expressed confidence in Egypt’s potential as a hub for solar and wind energy generation.

Egypt aims to introduce over 50 gigawatts of renewable energy by 2030 and is eager for China Energy's participation in these ventures.

 

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).