President El-Sisi Meets CEO of Scatec, Chairman of Envision Energy

alhadath – cairo

Today, President Abdel Fattah El-Sisi met with CEO of Scatec Mr. Terje Pilskog and Chairman of Envision Energy for Wind Turbines Mr. Kane Xu. The meeting was attended by Prime Minister Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Engineer Mahmoud Ismat, Ambassador of Norway to Egypt Erik B. Husem, and Vice President of Scatec for the Middle East and North Africa region Mr. Mohamed Amer.

The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, stated that the President welcomed the heads of the two Norwegian companies and commended their ongoing cooperation with Egypt. President El-Sisi also highlighted Egypt’s commitment to attracting foreign direct investments in the renewable energy sector, especially given Egypt’s competitive advantages and strategic location, which position it as a potential regional hub for clean energy. The President further emphasized Egypt’s focus on localizing technology and increasing the local component in large-scale related projects.

The heads of both companies confirmed their commitment to enhancing their investments in the Egyptian market, given the evolving business environment and effective collaboration with the concerned authorities. They also expressed their appreciation for the support their companies receive from the Egyptian state in renewable energy projects and wind turbine manufacturing. They reiterated their intention to expand their partnerships in Egypt, in line with efforts to transition to a green economy and achieve sustainable development. This is supported by Egypt’s competitive advantages in renewable energy production and its strategic location, which boosts opportunities for exporting energy and low-carbon footprint products.

Ways to enhance joint cooperation in the fields of renewable energy and green investment were also discussed during the meeting. This is in line with the country’s plan to attract high-quality investments and deepen partnerships with major global companies. The meeting confirmed the importance of continuing cooperation in the coming period to strengthen Egypt’s position as a leading destination for investment in sustainability and green transition projects, thus contributing to attracting more high-value-added foreign direct investments. The plans of Scatec for energy infrastructure in Egypt were also reviewed, particularly in the areas of solar energy and electricity storage systems, which allow for the provision of clean and stable energy, and wind power generation.

President El-Sisi emphasized that Egypt accords great importance to localizing technology and increasing the local component in large projects, in addition to strengthening partnerships with leading global companies to meet the growing local and international demand for renewable energy generation and to secure and enhance supply chains.