Planning Minister, Copenhagen Infrastructure Partners’ delegation discuss ways of cooperation to enhance investment in Egypt's green projects

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development who is also acting as the chairperson of the Board of Directors of The Sovereign Fund of Egypt (TSFE) met recently with representatives of the Danish Copenhagen Infrastructure Partners, headed by Philip Christiani, the company's founding partner.

The meeting discussed ways to enhance the mechanism of cooperation that helps in investment in green projects and renewable energy in Egypt.

Ambassador Hazem Khairat, Director of the Ministry's International Cooperation Office, and Karim Badr, Executive Director of Egypt's Utilities and Infrastructure Sub-Fund of TSFE attended the meeting.

Moreover, the meeting witnessed the presence of Mr. Ahmed El-Sherbiny, Chief Investment Officer and Vice President of the Energy Transformation Fund of the Copenhagen Company, and Hanzada Farid, Commercial Consul at the Embassy of Denmark.

During the meeting, Dr. Hala El-Said stressed that Egypt pays much attention to renewable energy projects and looks forward to shifting the economy towards green projects.

She further indicated that the investment plan for the fiscal year 2023/22 aims to reach 40% of its projects as green projects. This percentage is provided that this percentage increases to 50% by the end of 2025/24.

El-Said said that TSFE is the investment arm of the Egyptian government, pointing out that it supports the state's drive toward green transformation.

El-Said asserted that TSFE is developing hydrogen and green ammonia production projects in partnership with some specialized international companies, as well as water desalination projects.

The Minister of Planning and Economic Development also stated that the Suez Canal Economic Zone (SCZONE) provides promising investment opportunities, pointing to work to settle green fuel industries in the region, relying on renewable energy sources in Egypt.

For their part, representatives of Copenhagen Infrastructure Partners indicated that the company is 100% focused on global development. They also showed that nearly 20 billion euros have been invested worldwide in wind and solar energy.

Representatives of Copenhagen Infrastructure Partners’ asserted their desire to cooperate with the Egyptian government in many areas that fall within the scope of green projects.