Chairman of New and Renewable Energy Authority (NREA) Mohamed El Khayat inaugurated a roundtable that discussed investment potentials in renewable energy and sustainable development in Egypt, Al-Ahram reported.

The seminar, moderated by the NREA’s former Chairman Mohamed El Sobky, shed light on means to diversify Egypt’s energy resources and create a suitable legalization framework to accelerate energy’s growth rates, as well as challenges facing the sector and its impact on the investment climate.

The attendees outlined the required mechanisms aimed at transforming Egypt into a regional energy hub and the government’s strategy to purchase energy from the private sector in light of the availability of huge electricity reserve.

Other topics included the future of wind projects in Egypt and the role of banks in both funding fueling stations and offering loans for companies to carry out projects related to renewable energy in Egypt.