Egypt’s Minister of Investment and International Cooperation, Hassan El-Khatib, met with representatives of two leading British renewable energy companies, Globeleq and PASH Global, during a recent visit to the UK capital.
The Wednesday meetings, which took place at the Egyptian Trade Office in London, focused on attracting further investment in Egypt’s burgeoning renewable energy sector and establishing the country as a regional hub for clean energy.
El-Khatib met with Globeleq, a major investor in renewable energy across Africa, and its CEO, Paolo De Michelis. Globeleq already has a significant presence in Egypt, with investments in the Benban solar power plant and a memorandum of understanding for green hydrogen production in the Suez Canal Economic Zone.
The meeting explored further investment opportunities for Globeleq in Egypt, supported by the British International Investment (BII), the UK government’s investment arm. The company expressed its interest in expanding its renewable energy investments and collaborating with the Egyptian government on a large-scale green hydrogen production project.
Globeleq, which has been operating in Egypt since 2003, entered the country’s renewable energy sector in 2014. The company also outlined its ambition to expand its investments in wind energy, build desalination plants powered by renewable energy, and develop projects to reduce reliance on liquefied natural gas imports, ultimately aiming to curb Egypt’s import bill. Globeleq also indicated its willingness to submit proposals for smart transportation projects using clean energy in Egypt.
El-Khatib also met with Oge Diala, founder of PASH Global, another UK-based company operating in the renewable energy sector. The meeting centred on PASH Global’s interest in manufacturing solar panels in Egypt, with the goal of solidifying the country’s position as a regional and international hub for solar energy.
This aligns with Egypt’s growing need for solar power plants to support planned green hydrogen projects, promoting integration and strengthening Egypt’s role as a regional and international player in clean energy. PASH Global has already signed a memorandum of understanding with the Suez Canal Economic Zone Authority for a £2bn investment.
During both meetings, El-Khatib listened to detailed presentations from the companies outlining their current projects in Egypt and other countries, along with proposed projects in Egypt aimed at promoting sustainable development and providing clean energy sources.
The meetings also discussed the proposed scope of work for both companies. El-Khatib welcomed the proposed projects and assured the companies of the government’s commitment to providing all necessary facilitation to complete them.
“We are committed to facilitating all necessary steps for British companies to invest and expand in the Egyptian market,” El-Khatib said. “We aspire to transform Egypt into a regional and international hub for renewable energy.”
El-Khatib stressed Egypt’s eagerness to provide all necessary support to British companies seeking to invest and expand their operations in the Egyptian market.
