- Egypt’s Minister of Electricity and Renewable Energy met with the CEO of China Energy International (CEECOIC) to discuss cooperation in renewable energy, technology transfer, and the localisation of the solar cell.
- The meeting was based on earlier discussions held at the Shanghai Cooperation Organisation (SCO) Summit.
Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, met with Lyu Zexiang, CEO of China Energy International (CEECOIC), to discuss cooperation in renewable energy, technology transfer, and the localisation of the solar cell and energy storage battery industry, as per a statement.
The talks explored the company’s investment activity outside China, including its decision to relocate its North and West Africa headquarters to Cairo, and its plans to localise the manufacturing of solar cells and energy storage batteries in Egypt.
Discussions also covered establishing new projects, including a 1,000-megawatt solar power plant, a 600-megawatt battery-powered energy storage plant, and a separate 1,000-megawatt storage project.
The meeting was based on earlier discussions held at the Shanghai Cooperation Organisation (SCO) Summit.
It also addressed CEECOIC’s proprietary technologies, investment models, and Egypt’s growing energy market, as well as the measures the state is implementing to support technology transfer and industrial localisation.
Esmat emphasised that localising the renewable energy equipment industry is one of the ministry’s top priorities. He stated that requirements and controls are being developed to ensure local components account for 60 per cent of renewable energy projects, particularly in solar and wind power plants.
He added that the ministry’s strategy seeks to manufacture electrical equipment and supplies, encourage local industry, and attract foreign investment to support the modernisation of Egypt’s unified grid.