Egypt to get €1bn EU donations to boost energy sector

In a bid to boost Egypt’s green energy sector, the European Union is helping Cairo achieve ambitious goals through providing annual donations estimated at €1 billion, said Ambassador James Moran, head of the European Union delegation to Egypt on Friday.

In a conference entitled 'Chances and Challenges of Energy in Egypt’, organized by the Italian Chamber of Commerce, Moran stressed that the European Union is a strong partner with Egypt and is helping Egypt lay out a strategy for its energy model.

Moran added that renewable energy used to be prohibitively costly and inaccessible, but developments in technology will allow green energy to provide new chances in many fields and will create jobs.

Moran declared a main plan in Cairo over investments and technologies used in the energy field.