Oil and Mineral Resources Minister Tareq al-Mulla said Egypt has managed to turn demanding energy sector situations into stories of good fortune in seven years.
Speaking at a consultation on how low-carbon progression pathways in Africa and emerging countries as part of the paintings of the United Nations Climate Change Conference (COP27) in Sharm el-Sheikh, the Minister said that the African continent has diverse herbal resources that can be harnessed to diversify the right energy mix that meets the wishes of the continent’s peoples while reducing emissions. of greenhouse fuels.
International partnerships in Africa will enable movement of generation and link local partners, Mulla said, stressing the importance of building a running formula in oil, gas, power and renewable energy.
Also under pressure for African countries to provide incentives to partners to attract investment and publicize the contribution of the personal sector.
For his part, the President of the African Development Bank Group, Akinwumi A. Adesina praised Egypt’s efforts in organizing the conference and said the AfDB committed to supplying five million dollars to launch new and renewable energy projects.
Africa has forty-five percent of the world’s renewable energy resources, making it eligible to identify giant solar energy projects, Adesina added.
He also noted that the Bank directs its investments in this direction and directs investors towards financing power generation and brute force projects.
The personal sector plays a key role in the projects of progression in force generation in Africa, he added.
He cited the experience of Kenya, which has managed to attract large investments, amounting to 21 billion dollars in the fields of oil, gas, new and renewable energy in a short time.
During the session, Mohamed el Sewedy, president of the Federation of Egyptian Industries, said Egypt is the linchpin of efforts to build a regional force capable of turning reality into reality.
Egypt has promising industries that can catch up with China, he added.
Siemens CEO Helmut von Struve said this year’s edition of the global climate convention is an opportunity to talk about the demanding situations and opportunities of decarbonization and find sustainable responses that are environmentally friendly.
He pressed for the importance of accompanying African countries towards a low-carbon economy and offering technical support, especially for emerging countries.
He also highlighted the role played by the personal sector in supporting climate replacement efforts at other levels.