Egypt's Minister of Electricity and Renewable Energy, Mohamed Shaker, met with Andreas Matthe, CEO of Siemens Smart Infrastructure's Electrical Products Business Unit, accompanied by Mostafa El-Bagoury, CEO of Siemens Egypt, and Mohamed Badran, Head of Siemens Egypt's LV and MV business, to discuss collaboration opportunities in the Egyptian electricity and renewable energy sector, as well as investment prospects in Egypt. During the meeting, Shaker emphasized the strong relationship between Egypt and Germany, particularly in cooperation with Siemens across various fields. He highlighted the ongoing partnership between the Egyptian electricity sector and Siemens in implementing multiple projects and programs, leveraging their expertise and technological advancements. Shaker also underscored the successful collaboration and partnership with Siemens in constructing three large power stations with a total capacity of 14.4 gigawatts, achieving an efficiency rate of 60.5%. This has resulted in significant fuel savings for Egypt. Reaffirming the sector's strategy to achieve a renewable energy share of over 42% by 2030, Shaker mentioned the cooperation with international companies to initiate pilot projects for green hydrogen production in Egypt as an initial step towards expansion in this field and the potential for export. He revealed that 23 memoranda of understanding were signed during the Climate Conference COP 27, including 9 framework agreements with major companies in this field. Shaker also emphasized the considerable interest in green hydrogen as a promising future energy source. He elaborated that Egypt is exploring various alternatives for hydrogen generation and utilization, taking into account international experiences in this field. He highlighted Egypt's efforts to become a gateway for clean energy in Africa and its commitment to supporting African countries in accessing clean energy from renewable sources. In line with the Egyptian government's emphasis on the localization of the necessary industries for renewable energy and green hydrogen projects, the Ministry of Electricity and Renewable Energy is also interested in electrical interconnection projects with neighboring countries, as well as connections with Cyprus and Greece, and the export of electricity to Europe. Matthe commended the rapid and remarkable progress in the projects carried out by the Ministry of Electricity and Renewable Energy, as well as the achievements of the Egyptian electricity and renewable energy sector within a short timeframe. He expressed his desire to enhance cooperation with the electricity sector in various areas, praising the extensive expertise of the Egyptian electricity and renewable energy sector across all domains. He commended the fruitful collaboration with the Egyptian electricity and renewable energy sector and its ambitious future visions in project implementation, considering the energy transition, expansion of renewable energy projects, and environmental preservation. He expressed his desire to continue providing their expertise and studies in various fields, as well as their interest in increasing investments in Egypt.
