Prime Minister Mostafa Madbouly witnessed the signing of a framework agreement for cooperation in renewable energy and green hydrogen projects in a number of African countries.
The cooperation agreement was signed by Sovereign Fund of Egypt Chairman Ayman Soliman and from the Norwegian side, Tellef Thorleifsson, the CEO of the Norwegian Investment Fund, and Raymond Carlsen, Scatec CEO.
Under the framework agreement, the Egypt Sovereign Fund, the Norwegian Investment Fund, and Scatec will enhance their joint cooperation to develop green energy, green hydrogen facilities, and infrastructure in a number of countries in Africa. This will include the Democratic Republic of Congo, Tanzania, Ghana, South Sudan, Rwanda, Sierra Leone, Burundi, Djibouti and Uganda in the first phase, with the aim of expanding the scope of cooperation to include other countries in the second phase.
The scope of cooperation further includes cooperation to promote diversification of energy supplies in order to enhance energy security as well as develop new, sustainable, and renewable forms of energy. The collaboration is also important for supporting access to renewable energy in more accessible ways and enhancing technology transfer. It further aims to produce sustainable energy, achieve energy efficiency, and enhance capacity building, as well as facilitate investment in green energy in these countries.
The agreement comes within the framework of the ties and relations between Egypt and Norway, and in recognition of the importance of sustainable development in combating climate change, especially as Egypt is preparing to host COP27 next November.