Minister of Petroleum and Mineral Resources Tareq al-Molla said African countries, including Egypt, could serve as a global strategic hub for renewable energy.
Addressing a roundtable event, held on Tuesday 13/2/2024 as part of the proceedings of the International Energy Forum (IEF) in Paris, Molla added that Egypt is working on developing all forms of energy resources, including renewable energy and traditional fuel, in support of renewables’ role in achieving energy security, according to a press release by the petroleum ministry.
In tandem with these efforts, Egypt is also working for reducing carbon emissions, while securing its energy needs through more responsible and eco-friendly means, the minister said, highlighting also the government’s economic reforms and the efforts made to encourage green energy investments and stimulate private businesses.
Speaking about the challenges facing African states when pursuing green energy projects and energy transition goals, Molla stressed green financing and international cooperation agreements are the key to unlocking the vast renewable and green energy potential of Egypt and other African states.
In this regard, Molla asserted that Africa must receive its equitable share of the global funds dedicated to achieving a balanced energy transition.
EU Commissioner for Energy Kadri Simson took part in the roundtable event, held to discuss the role of renewable energy in attaining sustainable development in Africa, in the presence of a host of petroleum ministers and energy officials from around the world.
