Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Scatec, to discuss expanding collaboration in renewable energy and green investment, according to a ministry statement.
Scatec operates in Egypt’s renewable energy sector through a portfolio of solar and wind projects. Its activities include participation in the Benban Solar Park, one of the largest photovoltaic installations globally, as well as the Obelisk project in Nagaa Hammadi.
Farid stated that the government continues to maintain a stable and supportive investment environment for sustainable projects. He noted that renewable energy forms a central part of Egypt’s foreign direct investment strategy, pointing to the country’s location and market advantages.
Pilskog confirmed that Scatec plans to increase its investments in Egypt. He referred to improvements in the business climate and ongoing cooperation with government agencies. He also acknowledged state backing for renewable energy initiatives and said the company intends to share its expertise and expand partnerships to contribute to Egypt’s sustainability objectives.
The meeting also addressed proposals to scale up solar energy and battery storage projects to provide consistent clean power. These initiatives aim to support export-focused industries and strengthen their competitive position.
source: egyptoil-gas.com
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