By Abdullahi Lukman
Egypt is moving to strengthen its position as a regional hub for renewable energy and water desalination following high-level meetings between Minister of Investment and Foreign Trade Hassan El-Khatib and executives from Saudi Arabia’s ACWA Power and Greece’s Public Power Corporation (PPC) on the sidelines of the World Economic Forum in Davos.
According to a Cabinet statement, El-Khatib reaffirmed the government’s commitment to easing investment procedures for clean energy projects during talks with ACWA Power CEO Marco Arcelli.
The Saudi company currently operates two solar plants in Egypt with a combined capacity of 350 megawatts, which officials say are exceeding performance expectations.
Discussions also covered the progress of the 1.1-gigawatt Shams solar project, which is advancing on schedule, and efforts to resolve financing challenges for a planned 2-gigawatt solar expansion.
The two sides further explored cooperation in battery energy storage systems and wind power, with a focus on localizing services and expanding domestic manufacturing.
In a separate meeting with PPC Chairman and CEO Georgios Stassis, El-Khatib highlighted Egypt’s role in regional energy security through cross-border electricity interconnection and the development of green corridors linking North Africa with Europe.
The talks emphasized technology transfer, capacity building, and opportunities in green hydrogen production.
ACWA Power’s growing footprint in Egypt includes framework agreements signed in late 2023 for green hydrogen projects valued at more than $4 billion, underscoring continued investor interest in the country’s clean energy sector.
