Molla: Incentives to The Companies Invest in Green HydrogenSource: www.export-egypt.com 3/13/2023, Location: Africa |
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Minister of Petroleum and Mineral Wealth Tarek El Molla asserted that the ministry aims at coping with rapid international developments in the field of sustainability and energy to provide more investment opportunities to companies willing to invest in green hydrogen projects.
Addressing the first meeting of the higher organizational committee for cooperation between Egypt and Germany in the fields of energy and hydrogen, Molla said Egypt and Germany are attaching great importance to establishing partnerships and agreements in the field of energy especially at the current time, noting that energy transition, decarbonization as well as all energy-related issues are figuring high on the agenda of the two countries' work. German Deputy Minister for Economic Affairs and Climate Action Stefan Wenzel, Minister of International Cooperation Rania El Mashat, Minister of Public Enterprises Mahmoud Esmat, electricity ministry officials, a galaxy of representatives of German and Egyptian companies operating in the field of green energy as well as a number of oil ministry officials attended the meeting. Molla also reviewed Egypt's national strategies in the field of energy as well as development of the green hydrogen investments, noting that both strategies are in their final phases and will soon be announced after agreement between the ministries of oil and electricity. He said such efforts aim at achieving the objectives of the national strategy for climate action 2050 launched by Egypt to improve the quality of life and achieve sustainable development and economic growth in parallel with preserving the natural resources and the eco system. The minister also extended thanks to the German partners for their cooperation over several decades and their contribution to the success of the energy sector, voicing hope over achieving more alliances in the field of green hydrogen. Wenzel, on his part, underlined the importance of such meeting which groups senior officials from both sides as well as around representatives of 200 Egyptian and German companies. He explained that global changes and challenges and their impact on the energy field have opened new horizons for cooperation among countries and established a new phase of cooperation between Egypt and Germany in the field of energy transition. Wenzel also noted that Germany is willing to enlarge and strengthen its partnership with its international partners and is seeking to beef up its cooperation with Egypt in the fields of energy and hydrogen industry, praising Egypt's experiment in the field of energy which has greatly developed over the past phase. |
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