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Denmark, Egypt ink agreement on renewable energy

Denmark, Egypt ink agreement on renewable energy

Denmark and Egypt announced the new phase of cooperation last week. Both nations decided to develop the renewable energy, according to the recently signed Egyptian-Danish Energy Partnership Program (2019-2022) agreement.

Energy Agency of the Danish Ministry of Climate, Energy and Utilities have inked the green energy deal with Egypt’s ministries of international cooperation and electricity to push forward Egypt’s green transformation. Under the new deal, investment in Egypt’s renewable energy sector will be boosted.

As The Local Denmark says, the agreement was signed by Minister of International Cooperation Rania Al-Mashat and Minister of Electricity and Renewable Energy Mohamed Shaker.

Egypt seeks cooperation with Denmark to accelerate the pace of green transformation

Egyptian side will seek to form a joint committee with the Danes, which will serve as a forum for comprehensive strategic dialogue between the two nations to discuss cooperation in the energy field. The forum will be a body to make decisions on the strategic cooperation program between Denmark and Egypt.

The cooperation with Denmark, one of the leaders in the green energy sector, could accelerate the pace of Egypt’s green transformation by developing plans to ensure access to affordable clean energy and implementing wind energy projects. According to Egypt’s energy strategy until 2035, the share of renewable energy should be increased to more than 42 percent.

Danish Ambassador to Egypt Svend Olling hailed the new deal, which aims to confront the increasing challenges in the field of energy and the environment. The Danish diplomat stressed as well that his country remains a leading global partner in the field of renewable energy and green transformation. Olling said he looks forward to working with the North African country under the agreement to support the country’s green transition.

Historically, a cooperation between the governments of Egypt and Denmark dates back to 1969, amounting to about $560 million in several different fields, including new and renewable energy, water and sanitation, environment, culture and housing, according to the Ministry of International Cooperation.