During a meeting in Egypt, Mahmoud Essmat on Tuesday 13 August, Egypt’s Minister of Electricity and Renewable Energy, and Mariam Al Kaabi, the UAE ambassador to Cairo, discussed ways to strengthen cooperations and investment in these fields.
Essmat admired the enduring historical connections between Egypt and the UAE, describing them as “a prime example of effective cooperation among Arab nations.” He emphasized the fruitful collaborations between UAE companies and Egypt’s Ministry of Electricity and Renewable Energy, especially in the areas of renewable energy and energy diversification.
Essmat further noted, “The strong bond between the two countries fosters unwavering relationships and mutual support.” Additionally, he highlighted the crucial role private sector involvement in Egypt’s renewable energy initiatives. Essmat explained how government has put measures in place to attract private investment, especially in wind and solar energy projects, and UAE companies will receive comprehensive support for their investments in these areas.
“The private sector is essential for advancing the electricity sector strategy,” Essmat stated. “We are dedicated to addressing any challenges that might impede private investment, ensuring it can fully contribute to the national economy, the energy mix, and energy security for sustainable development.”
The collaboration between Egypt and the UAE focuses heavily on expanding renewable energy projects, particularly in wind and solar power. Both countries are already recognized for their ambitious renewable energy goals: Egypt aims to generate 42% of its electricity from renewables by 2035, while the UAE has committed to achieving 50% of its power from clean energy by 2050.
By utilizing resources and expertise, the partnership will enhance the development and implementation of these renewable projects. The UAE’s experience and technological advancements in solar and wind energy, coupled with Egypt’s vast potential for renewable resources, will create a powerful synergy.
This will lead to more efficient and cost-effective energy solutions, contributing to a significant reduction in carbon emissions and supporting global climate goals.
Strengthened cooperation between the two nations is expected to stimulate economic growth through increased investment opportunities. The Egyptian government’s initiative to attract private sector involvement in its renewable energy projects is vital. UAE companies, with their advanced technologies and substantial investment capacities, are well-positioned to contribute to the success of this collaboration.
The collaboration will not only boost investments in renewable energy but also foster job creation and technological transfer. As UAE companies engage in Egyptian energy projects, they will bring with them expertise and innovations that can enhance local skills and industry standards. This will lead to a more robust and competitive energy sector in Egypt and potentially create numerous employment opportunities.
For Egypt, the partnership with the UAE offers a strategic advantage in diversifying its energy mix and improving energy security. By expanding renewable energy capacity, Egypt can reduce its reliance on fossil fuels, which are subject to volatile prices and supply risks. Increased energy diversification will help stabilize the energy supply, making the nation more resilient to global energy market fluctuations.
For the UAE, it will benefit from this collaboration by reinforcing its role as a leader in clean energy technology and expanding its market presence. The partnership allows both countries to share knowledge and resources, making their energy systems more robust and secure.
Ultimately, the enhanced collaboration between Egypt and the UAE aligns with broader goals of sustainable development. By focusing on renewable energy and private sector involvement, the partnership supports long-term environmental and economic objectives. It fosters a transition towards a greener, more sustainable energy landscape while driving economic growth and innovation.
The strengthened collaboration in electricity and renewable energy between Egypt and the UAE holds significant promise for both nations. By leveraging their combined expertise and resources, they are set to achieve substantial progress in renewable energy development, economic growth, energy security, and regional cooperation. This partnership not only benefits the two countries but also contributes to broader global efforts toward sustainability and climate resilience.
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