Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, met with senior executives of Norwegian renewable energy company Scatec to discuss expansion plans worth $5bn in renewable energy, desalination, and data centers over the next two years.
The meeting was attended by Erik Husem, Norway’s Ambassador to Egypt; Terje Pilskog, Scatec CEO; Mohamed Amer, EVP for the Middle East and North Africa; and Mohamed Awad, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI).
Discussions covered Scatec’s current and future projects in Egypt, including renewable energy, wind power, battery storage, green hydrogen, green ammonia, desalination, and clean energy powered data centers. Scatec officials noted that the company’s existing investments in Egypt already total $5bn, with plans to double that figure through new projects.
Minister Farid reaffirmed Egypt’s commitment to improving the investment climate and prioritizing renewable energy and green industries as drivers of sustainable growth and exports. He emphasized Egypt’s strategic location, advanced infrastructure, and extensive trade agreements as key advantages for becoming a regional hub for clean energy and digital services.
Farid highlighted the role of green hydrogen, desalination, and data centers in boosting value added output, enhancing competitiveness, and maximizing the use of clean energy resources. He stressed the government’s support for serious investors engaged in production, employment, and exports, noting ongoing work to develop renewable energy certificates to strengthen Egypt’s green transition.
He also underlined Egypt’s strategy of partnering with leading global companies to facilitate technology transfer, localize advanced industries, and reinforce the country’s position as a regional hub for investment, manufacturing, and exports.
Norwegian Ambassador Erik Husem described Egypt as a strategic market and gateway to Africa for Norwegian companies, praising the steady growth of bilateral economic relations.
Scatec CEO Terje Pilskog reaffirmed Egypt’s importance as one of the company’s most strategic markets in Africa and the Middle East. “We are committed to investing an additional $5bn in Egypt over the next two years in renewable energy, desalination, and data center projects,” he said, adding that strong government support has been central to Scatec’s success and expansion in Egypt.
