A significant collaboration to promote Egypt’s renewable energy was completed on Tuesday with an agreement to establish a solar panel manufacturing facility. The agreement, signed at the headquarters of the Arab Organization for Industrialization (AOI), marks the collaboration between the AOI’s Arab Renewable Energy Company (ARECO) and Sweden’s Sunshine Pro.
The plan is part of Egypt’s global sustainability initiative, which aims to increase the share of renewable energy in the country’s energy mix to 42% by 2030 and over 60% by 2040.
Also, the goal is to develop technology, improve domestic production capacity, reduce dependence on imports, and attract investment abroad by working with international companies. This project is in line with Egypt’s emergency plans to increase renewable energy production, reduce dependence on fossil fuels, and reduce carbon emissions. It also supports the role of the private sector in driving Egypt’s sustainable development with clean energy at its core.
Minister of Electricity and Renewable Energy Mahmoud Esmat emphasised the importance of continuing cooperation with all relevant institutions to implement renewable energy projects. He reiterated the mission’s commitment to encouraging investment in energy production domestically and abroad, including the construction of solar panels.
The collaboration focuses on the creation and implementation of a state-of-the-art automated solar panel manufacturing facility that leverages AOI’s national expertise while adhering to world-class standards. Medini also noted that the project will create new opportunities for the Egyptian economy, especially in the renewable energy world.
The signing ceremony was attended by dignitaries including AOI Director General Abdel Rahman Abdel Azim Osman. Ghada El-Gendy, Director of the Arab Renewable Energy Company, and Essam Sheikh El-Ard, Secretary of the Arab Alternative Energies and Green Economy Union, expressed their support for the plan and its relevance to Egypt’s overall strength.
