Egypt’s Minister of Investment and Foreign Trade Mohamed Farid has met with Scatec CEO Terje Pilskog to explore expanding cooperation in renewable energy and green investment, as Cairo steps up efforts to attract high-quality foreign direct investment.
Scatec, the Norwegian renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind investments, anchored by its contribution to the Benban Solar Park — one of the world’s largest photovoltaic installations — and the recently launched Obelisk hybrid solar project in Nagaa Hammadi. Discussions covered plans to expand solar power and battery storage projects to ensure a stable, round-the-clock clean energy supply that supports export-oriented industries.
Pilskog reaffirmed Scatec’s commitment to increasing its Egypt footprint, citing improvements in the business environment and effective cooperation with authorities. He said the company is keen to transfer global expertise and broaden partnerships to support Egypt’s green transition. Minister Farid stated that renewable energy is a key pillar of Egypt’s FDI strategy and that the government is committed to providing a stable and attractive investment climate for sustainable projects.
Scatec’s global portfolio spans solar, wind and battery energy storage, and the company has also expanded into green hydrogen and green ammonia projects, operating under an integrated model that combines development, financing, construction and long-term operations.
Source: egyptoil-gas.com