Egyptian President, Abdel Fattah Al Sisi, met with General Electric (GE) CEO, Jeffrey Immelt, at the presidential palace headquarters in Misr El Gededah district, Cairo to discuss future project development.
Al Sisi and GE to drive power projects
According to Al Bawaba News, the discussion was called to identify ways of strengthening cooperation between the two sides, in order to achieve sustainable development in Egypt, to support government’s objectives of promoting economic growth and creating job opportunities.
With efforts aimed at achieving these goals, both parties reviewed various projects including renewable power developments.
Rise in CO2 confirms need for clean power
During the 2014/2015 period, it was recorded that the north African country has seen a 2.13% increase in CO2 emissions, the Central Agency for Public Mobilisation and Statistics (CAPMAS) said earlier this month.
This increase has been attributed to a greater consumption of petroleum products and natural gas, the Egypt Independent reported.
According to the CAPMAS statement, the biggest single source of carbon dioxide emissions in Egypt is the electricity sector, which is a large consumer of petroleum products, accounting for 42.6 percent of the nation’s total CO2 emissions during 2014/2015.
These figures confirm the need to develop and bring online more renewable power projects.
In December, Egypt secured $500 million from the European Bank for Reconstruction and Development (EBRD) to help fast-track the country’s new solar power initiative, which aims to develop a total of 2,000MW to be distributed over 40 utility-scale projects.
The funds, which have been earmarked for this year (2016), will be used towards the development of several plants and will help the country achieve its goal of generating 20% of its total power generation from renewable resources.