UK firms keen to invest in renewables in Egypt

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According to a statement from Gareth Bailey, the British Ambassador to Cairo, five ministers from the Egyptian government recently visited the UK capital to discuss promoting green investments and developing the Suez Canal’s economic zone.

During the talks, the Egyptian delegation also discussed the 2023 renewal of the African nation’s Zafarana wind farm, with the cooperation of two British-based businesses. The ambassador also commented that the engineer Professor Mohamed Shaker, Egypt’s Minister for Electricity, conducted extensive talks during the trip with the University of Sheffield regarding the scientific potential of green hydrogen production.

Bailey stressed that there was a great interest among British companies to make investments in Egypt in the renewable energy sector, and he described Egypt as a considerable power in the field through its work in green hydrogen, solar and wind energy. He commented that there are now 10 British companies that are eager to sign deal with the UK government for opportunities in the green hydrogen industry.

The ambassador stated that Britain and the African Development Bank had an agreement for the UK to provide over $2bn across two years in support of projects based across Africa, adding:

“There is a British program to accelerate green investments through which projects are being sought, investable in sustainable energy fields.”

From UK companies to individual consumers, those seeking green investment advice in Chester, Birmingham and other financial centres often consult wealth management firms. Experts in portfolio management, wealth managers can be called upon to source assets that reflect an individual’s or enterprises’ ethics and attitude towards sustainability.

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