Wednesday 25 April 2018

EU-Egypt ink new energy partnership

The European Union and Egypt has signed a new partnership for co-operation in the energy sector.

It was inked during EU Climate Action and Energy Commissioner Miguel Arias Canete's visit to Egypt this week.

The “new era” of the relations will tap into the “immense potential” in solar, wind and gas and open up investment opportunities.

Commissioner Canete said: “As a global leader in the clean energy transition, the EU is keen to support Egypt with sharing of experience, financial and technical assistance and with the mobilisation of international finance.

“We need not only public funds but in particular private investment to accelerate the Egyptian energy transition in order to scale up renewable and efficiency investment, modernise the gas sector and turn Egypt into an energy hub.”