Mohamed Shaker, Minister of Electricity and Renewable Energy, has discussed with South Korean ambassador to Egypt, Hong Jin Wook, ways to support and enhance cooperation between the two countries in the electricity sector.
Ambassador Hong praised the great experience that the Egyptian electricity and renewable energy sector has, hailing the achievements that the sector has achieved during the past few years.
He noted that the energy sector represents an important aspect of cooperation between the two countries, noting that it is one of the priority sectors in the partnership strategy between the two countries that is currently being formulated for the next five years.
Ambassador Hong affirmed his country’s desire and the desire of Korean companies to increase the volume of cooperation with the Egyptian side.
The Ambassador proposed to discuss the possibility of signing a memorandum of understanding between the two countries to enhance cooperation in various fields of electricity, including renewable energy, water desalination, green hydrogen and electric cars.
He pointed to the possibility of the participation of Korean companies in electricity connection projects, expressing his hope to achieve tangible results for cooperation between the two countries during the upcoming visit of the Korean President to Egypt next year.
Shaker reviewed the achievements that the electricity and renewable energy sector has achieved, stressing the interest the sector attaches to spreading the uses of renewable energies and reducing carbon emissions.
He stressed that the electricity sector receives unprecedented support from the political leadership of the state, which has put the issue of electric energy at the top of its priorities as it is the main pillar of development in various fields of economic and social life, and considers securing the electricity supply a matter of national security.
He explained that the sector succeeded in adding electrical capacities to the unified electrical network, amounting to more than 28,000 MW, and thus the available electrical generation capacities became sufficient to meet the requirements of investors.
He pointed to Egypt’s clear richness in renewable energy sources, especially wind and solar energy, which qualifies it to be one of the largest producers of renewable energy. More than 7,650 square kilometers of unused land has been allocated for new and renewable energy projects.
Shaker concluded that the sector has taken a number of important measures to benefit from the huge potential of renewable energy, according to a number of mechanisms to encourage the participation of the private sector in the sector’s projects, especially new and renewable energy projects.