Israel to invest more in Egyptian renewable energy projects

Israel plans to invest more in the field of power generation with renewable energy in Egypt, after two Israeli companies announced a major plan to carry out several projects to this effect.
The EU Commissioner for Energy Kadri Simson (L) looks on.
EU Commissioner for Energy Kadri Simson (L) looks on while European Commission President Ursula von der Leyen (2nd-L) and Egypt's Minister of Petroleum Tarek el-Molla (2nd-R) applaud as the Israeli Minister of Energy Karine Elharrar looks on during the signing ceremony of a trilateral natural gas deal during the ministerial meeting of the East Mediterranean Gas Forum (EMGF) in Cairo on June 15, 2022. - KHALED DESOUKI/AFP via Getty Images
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George Mikhail
@Guirguisfekri1

Israel is seizing the opportunity in the field of renewable energy plans in Egypt in a bid to consolidate diplomatic relations between the two countries.

On Aug. 16, Israeli natural gas producer NewMed Energy and Enlight Renewable Energy, a publicly traded company listed on the Tel Aviv Investment Exchange, announced a plan to carry out major projects in Egypt. The plan includes investing in several types of renewable energy projects, notably in the field of solar and wind energy, energy storage and other renewable energy sectors.

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