By Abdullahi Lukman
Egypt is stepping up efforts to attract high-quality foreign direct investment (FDI) as Mohamed Farid, 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.
The talks focused on increasing investments in solar power and battery energy storage to ensure a stable, round-the-clock supply of clean electricity. The projects are expected to support export-oriented industries and strengthen their global competitiveness.
Farid reaffirmed the government’s commitment to maintaining a stable and attractive investment climate for sustainable projects, describing renewable energy as a central pillar of Egypt’s FDI strategy. He pointed to the country’s strategic location and competitive advantages as key drivers for foreign investors.
Pilskog reiterated Scatec’s intention to expand its footprint in Egypt, citing improvements in the business environment and effective cooperation with national authorities.
He praised government backing for renewable energy initiatives and expressed the company’s readiness to transfer international expertise and build broader partnerships to advance Egypt’s green transition.
Scatec has been active in Egypt’s clean energy sector through a portfolio of solar and wind projects, including its role in the Benban Solar Park, one of the world’s largest photovoltaic installations, and the recently launched Obelisk project in Nagaa Hammadi.
Beyond solar and wind, the company also invests in battery energy storage systems and has expanded into green hydrogen and green ammonia projects across international markets under an integrated model covering development, financing, construction and long-term operations.