French companies eye new investments in Egypt’s clean energy projects

Several French companies are interested in making new investments in Egypt over the coming period, particularly in clean energy, renewable power, research and development (R&D) and modern technologies, France’s ambassador to Cairo Eric Chevallier said, cited by Al Ahram on April 27. 

Chevallier described Egypt as a pivotal, strategically located country that remains attractive to French investment.

His remarks came during a meeting with Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, to discuss ways to strengthen cooperation and support partnership in various electricity-related fields. The talks focused on new and renewable energy projects, energy efficiency, the development of control centres, technical assistance and the use of modern technology as part of Egypt’s plan to upgrade and modernise the national electricity grid.

The meeting also reviewed investment opportunities in electricity, renewable and clean energy, and projects aimed at supporting and expanding the national grid’s capacity to absorb more renewable power under Egypt’s national energy strategy. Esmat said Egyptian-French economic cooperation had had a significant impact on electricity and renewable energy projects, adding that the country is keen to expand cooperation with France across development, economic and investment sectors, while attracting more investment into electricity and renewable energy.

The minister also noted ongoing projects to develop the national grid, increase the share of renewables in the energy mix and encourage private-sector investment, both local and foreign.