Egypt, S. Arabia discuss boosting renewable energy investments

Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, met with Saudi Arabia’s ACWA Power Chairman Mohammad Abunayyan on Monday to discuss investment opportunities in Egypt’s renewable energy sector.

Minister El-Khatib highlighted strong Egypt-Saudi ties and recent progress in cooperation, praising the swift signing of a joint investment agreement. He reaffirmed Egypt’s commitment to creating a favourable investment climate and called for increased Saudi investments, noting Egypt’s target of generating 30 gigawatts for the national grid, including 10 gigawatts from renewables.

Abunayyan thanked El-Khatib for supporting Saudi investments and commended Egypt’s efforts to foster an attractive business environment.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama