According to a statement released on August 23 by the Ministry of Electricity and Renewable Energy, the UAE-based KK Power International is considering investment opportunities in Egypt in the areas of electricity, new and renewable energy, and environmental friendly hydrogen and ammonia production.
Egyptian Minister of Electricity Mohamed Shaker has met with the Chairman of KK Power Taj Aldin Seif to discuss ways to reinforce cooperation between the Emirati company and the electricity sector in Egypt.
During the meeting, Shaker praised collaboration with Emirati companies as trusted partners with great expertise in power projects.
The electricity sector in Egypt receives unprecedented support from the state’s leadership, the minister stressed, adding that the government deals with electricity as a main priority for development across economic and social fields.
Several actions have been taken to encourage the private sector to participate in the new and renewable projects, mainly wind energy and solar power, Shaker highlighted.
He also said that Egypt is working with an international organisation to develop a strategy that aims to increase the share of renewable energy in the mix of electricity to over 42% by 2035.
