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Egypt signs agreement with Norway to promote cooperation in alternative sources of energy

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  • Egypt and Norway are enhancing their cooperation in developing renewable energy sources. Towards that, both countries had signed an agreement recently, which provides for bilateral initiatives in developing renewable energy sources

Egypt and Norway are enhancing their cooperation in developing renewable energy sources. Towards that, both countries had signed an agreement recently, which provides for bilateral initiatives in developing renewable energy sources.

Cairo will launch environment-friendly projects in the lead-up to the 27th U.N. Climate Change Conference in the Red Sea resort of Sharm el-Sheikh in November.

Also Read:

https://trendsnafrica.com/egypt-raises-key-interest-rates-impacted-by-inflation-and-spiralling-oil-prices-due-to-russia-ukraine-war/

https://trendsnafrica.com/financial-inclusion-picks-up-in-egypt/

Norwegian Foreign Minister Anniken Huitfeldt was in Cairo to sign the agreement and he expressed optimism the trade and investment ties between the two countries would improve.  He had a joint press conference at Cairo with  Egypt’s Foreign Minister Sameh Shoukry.

Among those who were present at the signing ceremony was   Egypt’s Prime Minister Mustafa Madbouly. The agreement between Cairo and Oslo envisions projects for the production of renewable energy, green hydrogen and the building of a green infrastructure in African countries. It may be recalled that earlier this month, Egypt signed a US$5 billion memorandum of understanding with Scatec to establish a plant in the Suez Canal area for producing green ammonia from green hydrogen as reported by www.trendsnafrica.com. The plant will be operational by 2025., It  is expected to produce one ton of green ammonia a year, with a potential to expand to three tons, According the Egyptian government.

 

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