El-Sisi explores tripartite cooperation with China’s Sungrow, Norway’s Scatec

Updated 9/15/2025 9:51:00 AM

Arab Finance: President Abdel Fattah El-Sisi reviewed opportunities for tripartite cooperation between Egypt, Norwegian Company Scatec, and Chinese Group Sungrow, according to an official statement.

In his meeting with Terje Pilskog, CEO of Scatec, and Cao Renxian, Chairman of Sungrow, President El-Sisi affirmed the importance of enhancing cooperation opportunities while supporting Egypt's policy of localizing industry and expanding high-quality production.

Spokesman for the Presidency, Mohamed El-Shennawy, revealed that the two companies affirmed their appreciation for Egypt's keenness on facilitating their investments in the country.

El-Shennawy added that the president elaborated that the partnership aims to boost foreign direct investment, which contributes to securing more job opportunities in the new and renewable energy sector.

This aligns with Egypt's vision of becoming a leading manufacturer and exporter of green energy, anchoring its position as a regional energy hub in the Eastern Mediterranean.

Pilskog outlined his company's efforts to provide clean energy and green fuel in various countries worldwide. He also discussed the latest developments of the company’s wind power projects and green hydrogen projects in Egypt.

Scatec's new and renewable energy projects in Egypt are considered among the most successful within the energy axis of the Nexus of Water, Food and Energy (NWFE) Program, Pilskog asserted.

Its investment portfolio within the NWFE program is valued at $3.6 billion, and it includes the Obelisk solar power plant project in Nag Hammadi and a project to build a solar power plant with a total capacity of 1 gigawatt (GW). It also covers 200 megawatt-hours of battery storage for Aluminium Company of Egypt (Egyptalum).

This is along with the Egypt Green Hydrogen project to develop the first facility for producing green hydrogen and green ammonia within the Suez Canal Economic Zone (SCZONE).

It will establish the Shadwan wind farm project in Ras Shokeir and the Green Ammonia project in Damietta.

For his part, the Chairman of Sungrow reviewed his group’s efforts in producing the components for power plants and manufacturing storage batteries.

Cao Renxian discussed the ongoing collaboration to establish a factory in Egypt with an annual capacity of 10 GW for producing energy storage batteries.

He affirmed Sungrow's readiness to cooperate with Egypt in the localization of this industry, leveraging the state’s infrastructure and components for new and renewable energy.