Egypt and Germany Forge €118 Million Clean Energy and Education Partnership
Egypt and Germany have solidified their commitment to sustainable development through a substantial €118 million financial cooperation agreement focusing on wind energy advancement and inclusive technical education enhancement.
The comprehensive deal allocates €86 million specifically toward interconnecting the ACWA Power 1 and 2 wind farms, while €32 million in grants will establish 25 Centers of Excellence and applied technology schools and training centers throughout Egypt.
The ACWA Power wind farms, supported by €54 million in concessional financing and €32 million in additional grant support, are projected to deliver 1,100 MW of electricity capacity as part of Egypt’s ambitious Noufi green investment initiative. This substantial renewable energy addition represents a significant step toward Egypt’s clean energy transition goals.
The educational component aims to improve workforce skills in areas directly aligned with Egypt’s key economic priorities, ensuring the country develops the human capital necessary to support its growing renewable energy sector and broader economic transformation.
A complementary debt swap agreement between the Central Bank of Egypt, Egypt’s Ministry of Electricity and Renewable Energy, and the German government brings the total value of German-Egyptian debt swap arrangements to €297 million, demonstrating the depth of bilateral cooperation between the two nations.
This partnership exemplifies the growing trend of international collaboration in addressing climate change while simultaneously building local capacity and expertise in emerging economies.
Source: energycapitalpower.com