Arab Finance: Minister of Electricity and Renewable Energy Mahmoud Esmat discussed cooperation and investment opportunities in renewable energy and the localization of the wind turbine industry with officials from the Chinese company MingYang Smart Energy, as per a statement.

The meeting, held via video conference, came within the framework of Egypt’s broader strategy to support and localize industry and increase the share of local components in energy projects, particularly in renewable energy.

Discussions focused on partnerships to localize the electrical equipment industry for wind turbines, the possibility of introducing offshore turbine technology, and mechanisms for transferring expertise to Egypt.

Esmat and MingYang’s Chairman Qiying Zhang reviewed the company’s international operations, advanced technologies, and areas of expertise in the wind turbine sector.

The meeting also explored Egypt’s national energy strategy, the capacity of its local market to absorb new industries, and the incentives and facilities available to support technology transfer and industrial localization.

The minister highlighted Egypt’s strategy to strengthen the national electricity grid and expand renewable energy capacity by around 3,000 megawatts annually until 2035.

He also pointed to ongoing efforts to localize the production of renewable energy supplies such as solar cells and energy storage batteries, in line with the government’s plan to reduce fuel consumption and carbon emissions.

Esmat reaffirmed the state’s commitment to supporting industrial localization and modern technology transfer, especially in renewable energy-related sectors.

He noted that Egypt aims to increase the share of renewable energy in its total energy mix to over 42% by 2030 and 65% by 2040.

He emphasized that over the past decade, Egypt has rebuilt and upgraded its infrastructure to attract private-sector investment and facilitate industrial development, including a favorable legislative framework for renewable energy projects.

Esmat added that renewable energy initiatives are being implemented in partnership with the private sector, which has played a key role in driving investment and advancing Egypt’s energy transformation agenda.

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