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Egypt Today
The Sovereign Fund of Egypt, the Norwegian Investment Fund and the Norwegian Scatec Company signed an energy infrastructure development cooperation agreement on Wednesday.
The agreement aims to develop renewable energy, green hydrogen and green infrastructure projects in a number of African countries.
Egypt and Norway will develop energy infrastructure in Congo, Tanzania, Ghana, South Sudan, Rwanda, Sierra Leone, Burundi, Djibouti and Uganda in the first phase of activity. The agreement will expand the scope of cooperation to include other African nations in the second phase.
The cooperation will cover the implementation, development, financing, construction and operation of green energy, green hydrogen and infrastructure projects. It focuses on promoting the diversification of energy supplies and enhance energy security, develop new sustainable and renewable forms of energy, support access to renewable energy, enhance technology transfer of sustainable energy production and achieve energy efficiency.
A coordination committee will be set up between the sovereign funds of Egypt, Norway, and the Norwegian Scatec company. The three parties will identify development opportunities, study the projects, finance and implement agreed upon projects.
