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Egypt and Denmark have signed an agreement to increase their cooperation and the value of Danish investments in clean energy development.
- Denmark plans to increase its investment in the North African country by as much as ten times.
- Egypt intends to attract the private investments necessary to deploy large scale projects.
The governments of Egypt and Denmark have agreed to increase their cooperation in the area of renewable energy. The Danish Ambassador to Egypt, Svend Olling, signed the agreement with the Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker.
According to the Danish authorities, the country intends to increase its renewable energy investments by 10 times the current value. This new agreement complements a previous agreement signed between the Danish Ministry of Climate’s Energy Agency, Energy and Public Utilities and the Egyptian Ministries of International Cooperation and Electricity.
Denmark has been a renewable energy leader on the African continent. The country is currently providing part funding for the 100MW Assela wind power project. Egypt has become a big proponent of clean energy development. The country intends to attract private sector participation in the renewable energy sector, especially for developing large renewable energy projects, like the 1.65GW Benban photovoltaic solar complex in Aswan. The country has also approved the construction of a 250MW wind farm by the Danish EPC company Vesta Vestas Wind Systems A/S in the Suez Gulf.