President El-Sisi Meets the Chief Executive Officers (CEO) of Norway’s Scatec and China’s Sungrow Group

Today, President Abdel Fattah El-Sisi received CEO of Norwegian Company Scatec, Mr. Terje Pilskog, and Founder and Chairman of the Chinese Group “Sungrow”, Mr. Cao Renxian.  The meeting was also attended by Prime Minister Dr. Mostafa Madbouly; Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Lieutenant General Eng. Kamel Al-Wazir; and Minister of Electricity and Renewable Energy, Eng. Mahmoud Ismat.

Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi welcomed the heads of Scatec ASA and Sungrow Group, expressing appreciation for the ongoing cooperation between Egypt and the two companies. The President underscored the importance of this collaboration in boosting foreign direct investment, which contributes to creating more job opportunities in the new and renewable energy sector, thereby aligning with Egypt’s efforts to solidify its position as a regional energy hub in the Eastern Mediterranean.

The CEO of Scatec reviewed his company’s efforts to provide clean energy and green fuel in various countries worldwide. He also discussed the current state of cooperation between the Government of Egypt and his company, which has led to an increase in the number and scale of solar and wind power projects for electricity generation as well as 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 national “NWFE ” program platform, which was adopted as a presidential initiative for climate action.

The investment portfolio that Scatec is implementing within the energy axis of the “NWFE ” program is valued at $3.6 billion. This 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, plus 200 megawatt-hours of battery storage for Aluminium Company of Egypt (Egyptalum).  This is in addition to “Egypt Green Hydrogen” project, which aims to develop the first facility for producing green hydrogen and green ammonia within the Suez Canal Economic Zone; the “Shadwan” wind farm project in Ras Shokeir; and the “Green Ammonia” project in Damietta.

For his part, the Chairman of China’s Sungrow Group reviewed his company’s efforts in producing the components for power plants and manufacturing storage batteries. He also discussed the ongoing collaboration to establish a factory in Egypt with an annual capacity of 10 gigawatts for producing energy storage batteries. Mr. Cao Renxian expressed Sungrow Group’s readiness to cooperate with Egypt in the localization of this industry, leveraging Egypt’s existing infrastructure and components for new and renewable energy.

The meeting also explored opportunities for tripartite cooperation between Egypt, the Norwegian company, and the Chinese group. The two companies affirmed their appreciation for Egypt’s keenness on facilitating their investments in the country, in alignment with Egypt’s vision of becoming a leading manufacturer and exporter of green energy.

President El-Sisi emphasized the importance of bolstering cooperation opportunities with both Scatec and Sungrow Group, capitalizing on Egypt’s policy of localizing industry and enhancing high-quality production, while removing any obstacles encountering the two companies’ work in Egypt.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.