Khayat: ME’s first sovereign green bonds top Egypt 2020

resident of New and Renewable Energy Authority Mohamed El Khayat asserted that the year 2020 witnessed Egypt’s recognized breakthroughs in energy in such.

President of New and Renewable Energy Authority Mohamed El Khayat asserted that the year 2020 witnessed Egypt’s recognized breakthroughs in energy in such a way as to make Upper Egypt’s Aswan the capital of renewable energy all over the world. He acknowledged the fact that it is the only positive source of energy amid the challenging conditions resulting from the global outbreak of COVID-19 and its daunting repercussions.

He added over his voice on (Cairo Local Time) that for the first time in the Middle East Egypt issued in September 2020 sovereign green bonds pushing Egypt ahead with anti-pollution and renewable energy projects to catch up a prominent rank on the map of sustainable financing. The bonds collected $750 million which exceeded its target of $500 million, the president stated.

Further, Egypt proved successful in supply chain management for renewable energy projects and in reliable logistics to assure its well-mannered procurement strategy, he said, declaring that we signed and approved in that year new contracts with a capacity of $1.5 billion.

Reaching this point, he mentioned two main positive messages delivered in that regard; the first demonstrates how much the renewable energy in Egypt attracts foreign investors, which indicates national economic stability, and the second highlights the concerted approach among the local and international authorities.

Shedding light on one of the mega projects in the energy field, he underscored Benban Solar Complex in Aswan comprising 32 projects implemented at the same time. He considered it as an international icon winning three various global awards in 2017, 2018 and 2020, declaring wind energy projects now underway to be implemented in collaboration with the private sector.

(Cairo Local Time) is aired on Nile TV International from Sunday to Thursday. The episode is conducted by Amal Mokhtar.