Egypt, Denmark Cooperate on Wind Energy

Egypt, Denmark Cooperate on Wind Energy

The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, met with the Danish Minister of Energy, Utilities and Climate, Lars Lilleholt, and Danish Vestas CEO, Anders Runevad, to discuss Egyptian-Danish cooperation in the field of new and renewable energy, in addition to the challenges facing the sector in both Egypt and Denmark, reported Al Borsa News.

Lilleholt is in Egypt to lobby for a deal between the Egyptian government and Danish wind-turbine maker Vestas, worth up to $2.3b. He said that the agreement could lead to as much as 2.2 GW in wind power projects, according to Reuters.

Vestas’ Chief Press Officer, Michael Zarin, stated: “Vestas is continuing discussions with the authorities and we expect to sign the cooperation agreement, some time shortly after the trip, maybe during.”

Vestas shares rose by almost 5% after the minister announced the deal with Egypt.

Sarah Samir 3289 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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