Sunday 23 Feb
Following the inauguration of the Egypt International Energy Conference EGYPS 2025, President Abdel Fattah El-Sisi and Cypriot President Nikos Christodoulides witnessed the signing of an agreement. This agreement, between the Egyptian Ministries of Petroleum and Mineral Resources and Electricity and Renewable Energy, and the Saudi Ministry of Energy, aims to develop an executive plan for cooperation in energy efficiency between Egypt and Saudi Arabia.
The agreement was signed by Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, and Dr. Mahmoud Essmat, Minister of Electricity and Renewable Energy, representing Egypt, and His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy, representing Saudi Arabia.
This partnership aims to
establish a national program for improving energy efficiency in Egypt. The two
countries will collaborate on the program's development and implementation
through experience sharing and technical support from Saudi Arabia. Cooperation
will also focus on developing a methodology for determining the necessary
mechanisms and plans to achieve national energy efficiency goals in Egypt.
Under this partnership, knowledge
exchange and technical support will focus on improving energy efficiency in
Egypt. This collaboration will encompass developing technical specifications
and standards, establishing mechanisms to enforce energy efficiency regulations
and standards, building human capacity through training programs and workshops,
and creating mechanisms to develop energy service companies and the necessary
infrastructure for improved energy efficiency projects. This includes
facilitating financing and investment mechanisms for these projects.
Furthermore, the partnership will
explore establishing a joint entity, in cooperation with the Saudi
Rationalization Foundation, specializing in the creation and development of
renewable energy efficiency projects in Egypt.
The two sides agreed to establish a joint mechanism to oversee implementation, define targets and performance indicators for monitoring the plan's progress, and form dedicated technical teams for each work stream.
