Ambassador Christian Berger, said on 29 May at the inauguration of Gulf of Suez Windfarm “Renewable energy is vital to achieving climate neutrality and energy security, and Egypt possesses key assets: sun and wind. The EU is the world’s biggest provider of climate finance, accounting for more than 40% of worldwide public climate funds through its Member States. In our partner countries, we use technical assistance, capacity building, investments and guarantees to mitigate risks and leverage private participation. With the appropriate investment and legislation, renewable energy can become mainstream, opening up new markets, economies of scale and business opportunities.”
The windfarm is a collaborative effort between the European Union (EU), the Federal Ministry for Economic Cooperation and Development (BMZ), The German Development Bank (KfW), the European Investment Bank (EIB), and the French Development Agency (AFD).