Wednesday 25 Dec
Dr. Mahmoud Essmat, Minister of Electricity and Renewable Energy, and Lieutenant General Engineer Mokhtar Abdel Latif, Chairman of the Arab Organization for Industrialization, witnessed at the organization's headquarters the signing ceremony for a joint industrial project to manufacture solar panels between the Arab Renewable Energy Company, affiliated with the organization, and Sunshine Pro, a Swedish company.
The partnership between the AOI's Renewable Energy Company and Sweden's Sunshine Pro will establish a state-of-the-art production line with an annual capacity of 1 gigawatt. This initiative aligns with Egypt's broader strategy to increase the share of renewable energy in its energy mix to over 42% by 2030 and over 60% by 2040.
The contract for solar panel
manufacturing aligns with the Ministry of Electricity and Renewable Energy's
collaboration with the Arab Organization for Industrialization. This builds
upon the organization's success in localizing technology, boosting domestic
manufacturing, and attracting foreign investment through partnerships with
global companies. This initiative supports the urgent need to expand renewable
energy capacity, reduce reliance on fossil fuels, and mitigate carbon
emissions. The government actively encourages private sector participation and
investment, both domestic and foreign, in line with its vision for sustainable
development, where clean energy plays a crucial role.
Essmat emphasized the importance
of ongoing coordination and cooperation with all stakeholders to support the
electricity and renewable energy sector's plan and the strategic transition
towards clean energy. He highlighted the acceleration of implementation steps
for projects aimed at increasing the contribution of renewable energy sources
to the national grid.
He emphasized the crucial role of the private sector in renewable energy projects. The ministry is actively working to facilitate private sector participation by creating opportunities and providing necessary support to attract both domestic and foreign investments in clean energy initiatives. This includes efforts to localize the manufacturing of key components, such as solar cells. He further highlighted the urgent need for a comprehensive plan to enhance the quality and reliability of electricity supply. This plan prioritizes the integration of renewable energy sources, decarbonization efforts, energy diversification, and a reduction in the consumption of traditional fuels, all in alignment with the sustainable development vision of the new republic.
