As Cairo steps up efforts to attract high-quality foreign direct investment (FDI), Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Norway’s Scatec, to explore expanding cooperation in renewable energy and green investment,  according to a press release by the ministry.

Scatec, a renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind power investments. The company’s portfolio is anchored by its contribution to the Benban Solar Park, one of the world’s largest photovoltaic (PV) installations, and the recently launched Obelisk project in Nagaa Hammadi.

Farid said the government is committed to providing a stable and attractive investment climate to support sustainable projects. He added that renewable energy is a key pillar of Egypt’s FDI strategy, citing the country’s competitive advantages and strategic location.

For his part, Pilskog reaffirmed Scatec’s commitment to expanding its investments in Egypt. He highlighted improvements in the business environment and effective cooperation with relevant authorities. He also praised government support for renewable energy projects and said the company is keen to transfer global expertise and broaden partnerships to support Egypt’s green transition and sustainable development goals.

Discussions also covered plans to expand solar power and battery storage projects to ensure a stable, round-the-clock clean energy supply. Such projects are expected to support export-oriented industries and enhance their competitiveness.

Scatec’s portfolio spans solar, wind, and battery energy storage systems. The company has also expanded into green hydrogen and green ammonia projects in several international markets, operating under an integrated model that combines development, financing, construction, and long-term operations.