LONDON: Egypt and the UK have signed a statement of intent to cooperate in reforming renewable energy regulations.
The signing took place in London during a meeting between Egypt’s Foreign Minister Sameh Shoukry and Liz Truss, the UK’s secretary of state for foreign, Commonwealth and development affairs.
The UK said it “commends Egypt’s leadership and efforts on renewable energy generation and opportunities for British investors and firms within the energy sector.”
Alongside the plans to cooperate on energy, there was news of a joint $325 million investment for the launch of the Lekela wind farm, located in northern Egypt, boasting 252-megawatt capacity and expected to boost the country’s wind output by 18 percent.
The ministers also explored opportunities for economic cooperation between the two countries, and agreed on a need to work on growing bilateral trade and investment.
The meeting also witnessed the finalization of British Investment International’s $100 million acquisition of Egypt’s Alfa Medical Group.
