COP27: EU and Egypt step up cooperation on the clean energy transition

At COP27 in Sharm El-Sheikh, on November 16, 2022, the EU and Egypt have taken a further step to boost their long-term cooperation on the clean energy transition by establishing a strategic partnership on renewable hydrogen and preparing the ground for a just energy transition in Egypt.

The European Commission, represented by Executive Vice-President Timmermans and Commissioner Simson, signed a bilateral Memorandum of Understanding (MoU) on a strategic partnership on renewable hydrogen with Egypt’s Minister for Petroleum Tarek El Molla and Minister for Electricity and Renewable Energy Mohammed Shaker El-Markabi. They also signed a Joint Statement with the European Bank for Reconstruction and Development (EBRD) and the Egyptian Minister of International Cooperation, Rania El Mashat, announcing the Commission’s contribution of up to EUR 35 million in support of Egypt’s Energy Wealth Initiative.

Today’s signatures at COP27 mark concrete steps in the ongoing EU-Egypt cooperation on the green transition, in line with the EU-Egypt Association Agreement, the EU Global Gateway, the EU Agenda for the Mediterranean and its Economic and Investment Plan, and the EU-Egypt Partnership Priorities. They also follow the joint statement on climate, energy and the green transition issued by European Commission President Ursula von der Leyen and President of the Arab Republic of Egypt, Abdel-Fattah El-Sisi earlier this year.

A press release is available online.