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HomeAfricaBP Shows Interest in Investing in Egypt's Electricity, Green Hydrogen Sectors |...

BP Shows Interest in Investing in Egypt’s Electricity, Green Hydrogen Sectors | Sada Elbalad

Wed 21 Feb 2024 | 07:56 PM

Taarek Refaat

Mohamed Shaker, Minister of Electricity and Renewable Energy received Anja Isabel, Executive Vice President of British Petroleum for gas and low-carbon energy, to discuss ways to support and enhance cooperation between the Egyptian electricity and renewable energy sector and the company.

The meeting discussed ways of joint cooperation between the two sides in the field of green hydrogen and new and renewable energy.

Shaker stressed the interest that the sector pays to spreading the uses of renewable energies, reducing carbon emissions, and increasing the share of private sector participation in such projects, and expressed his welcome for cooperation with the company in this regard.

He pointed out to to the state’s strategy aims to reach the percentage of renewable energy’s contribution to the energy mix in Egypt to more than 42% by 2030

He stressed the need to pay attention to increasing reliance on renewable energy sources in the production of electrical energy, to reduce the rate of dependence on fossil fuels, which helps increase the contribution of clean energy to the energy share and preserve the environment and also helps rationalize the consumption of natural gas because of its significant impact on the economic return.

The Minister also pointed out the interest that the sector gives to green hydrogen, and there is cooperation with international companies to implement pilot projects to produce green hydrogen in Egypt as a first step towards expansion in this field. On the sidelines of the COP 27 conference, about 23 memorandums were signed in this regard.

Isabel praised the rapid and remarkable development in the projects implemented by the Egyptian electricity and renewable energy sector and the achievements it succeeded in achieving within a short period, expressing her desire to enhance cooperation with the electricity sector in various fields of electricity, especially in Green hydrogen field.