Egypt Received $200m in Power Aid from EU

Egypt Received $200m in Power Aid from EU

On the sidelines of the Integrated Sustainable Energy Strategy Conference, Deputy Head of the European Union Delegation to Egypt, Reinhold Brender, stated that European Eunion (EU) helped Egypt finance energy projects by granting around $200m, with the EU supporting Egypt’s energy on financial, operational and legislative levels, reported Al Borsa News.

Brender added that EU provided operational assistance to Egypt’s energy reform through Technical Assistance to Support the Reform of the Energy Sector (TARES) Project and other initiatives.

The country’s energy strategy was supported by the national Egyptian energy model TIMES-EGYPT that was designed by European consultants presenting several visions for energy future that include developing coal produced energy factories, producing nuclear energy, new gas fields discoveries, and new and renewable energy production.

In related news, Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that setting a plan for sustainable energy until 2035 in cooperation with European Union (UN) is a vital step towards a better future. El Molla’s comments came in his keynote speech titled ‘Moving Forward with an Energy Strategy to 2035′ that was delivered during the conference.

Sarah Samir 3297 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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