"Egypt noted that China in the field of renewable energy technology advantages and achievements, I hope in this area long-term cooperation with China. " Egyptian Minister of Investment Mahmoud Muhyiddin told reporters in Beijing recently, the Egyptian government welcomes Entrepreneurial Chinese companies to invest in Egypt.
Muhyiddin said the Egyptian government attaches great importance to renewable energy development and use. Egyptian government in 2008 introduced the "new renewable energy bill"and established a mechanism conducive to investment, encourage foreign investment and private enterprise wide, and made for the 2020 renewable energy target of achieving renewable energy Total domestic electricity generating capacity will reach 20%, 12% from wind energy, wind power installed capacity of 12650MW. Currently, based on the rich land resources in Egypt, a relatively stable climate conditions and cheap labor, Egypt priority to the development of renewable energy including wind power, biomass and solar energy
The minister said that although Egypt is currently on the basis of development and utilization of solar energy is relatively weak, but the Egyptian government noted that China in promoting the development of renewable energy has made great efforts and achieved some technological advantages. In view of the industry estimated the cost of solar energy in the next 5 years to 7 years time there was a substantial decline in Egypt plans to vigorously develop the solar market. And China's technological advantages in this regard, will the two countries in energy development and use of new cooperation to provide a very wide space.
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