Egypt's Prime Minister Moustafa Madbouly said the government is ready to purchase at least 2,000 megawatts of power from Chinese energy engineering and equipment manufacturer TBEA, in line with Egypt's strategy to localise renewable energy industries. This came during a meeting with TBEA chairman Zhang Xin on the sidelines of the Shanghai Cooperation Organisation Plus (SCO+) summit in Tianjin, where Madbouly said the proposal would cover production, transmission, and storage, with the government offering TBEA full incentives and support for its implementation. TBEA's chairman highlighted the company's experience in renewable energy, with assets exceeding $4 billion and projects in 19 countries, including in the Middle East. He noted that TBEA has over $300 million in investments in Egypt and expressed interest in expanding cooperation in solar power, energy storage batteries, and maintenance services. Madbouly emphasised Egypt's priority to develop renewable energy projects and localise the manufacturing of solar and wind components. He suggested that TBEA establish a factory in the TEDA industrial zone in the Suez Canal Economic Zone (SCZONE), citing its advantages and government incentives designed to attract more foreign investment. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
