The meeting, held in the Chinese city of Ningbo, discussed the importance of energy transition, diversifying electricity generation sources, and the energy mix, as well as ensuring sustainability and securing electricity supply. It also discussed the importance of hydropower generation and pumping and storage projects to stabilize grids in light of the increasing reliance on renewable energy. It also addressed electricity storage batteries connected to power plants and separate ones. The meeting addressed Egypt's ambitious energy strategy and implementation projects, as well as the role of Chinese companies, technology, equipment, and electrical equipment in meeting the requirements of the Egyptian energy strategy. The meeting also addressed the importance of joint efforts to transfer technology and localize the equipment industry in Egypt, given the scale of business and the significant share of Chinese equipment in the Egyptian market, as well as the potential for expansion into surrounding markets in Europe and Africa. The two ministers agreed to support Egypt's drive to transfer and localize Chinese technology in the field of renewable energy.
Esmat stated that Chinese companies are reliable partners for success, and that there is cooperation and partnership in various fields of work within the electricity sector, particularly in the renewable energy sector. He praised the long-standing relations between the Egyptian and Chinese peoples, explaining the state's vision for localizing industry and advancing this direction, providing the necessary facilitations to attract companies with technology, increase their investments, and operate in the local market. He pointed to successful models and partnerships in the fields of electricity generation, transmission, and distribution, emphasizing the growing strategic relations between the two countries and the shared drive towards expanding energy transformation and renewable energy projects. He praised China's pioneering experience in the energy sector and emphasized Egypt's keenness to benefit from its advanced expertise.
He called on Chinese companies to invest more in Egypt, particularly in the areas of localizing industries that feed into renewable energy projects, such as components for solar and wind power plants and energy storage batteries.
Hongzhi expressed his aspiration to deepen the partnership with Egypt, noting China's interest in expanding its investments in the African continent and Egypt's status as a strategic partner and a promising regional energy hub. He added that Egypt now possesses a strong and encouraging infrastructure to attract companies to invest, as well as changes in supportive legislation that help create an attractive investment environment.