The United Nations Industrial Development Organization (UNIDO) will help in building local capacities for manufacturing of solar energy systems and components in Egypt and promote the application of solar energy in the country’s chemicals, agro-food and textile industries.
Today’s official launch of the new project, funded by the Global Environment Facility (GEF), was attended by the Director General of UNIDO, LI Yong, and the Minister of Industry, Trade and Small and Medium Size Enterprises, Mounir Fakhry Abdel Nour.
Director General Li is in Egypt for the Economic Development Conference.
The new UNIDO project will focus on developing local capacities for the manufacturing of solar energy products and components in Egypt that are in compliance with international quality norms, with the objective of pursuing inclusive and sustainable industrial development. It is expected to bring in considerable investments from the private sector to support building the industry of solar energy within Egypt, allowing it to keep a leading role in the Middle East and North Africa region.
The project, worth a total of USD 6.5 million, is expected to generate investments in the renewable energy sector of more than USD 30 million and will further contribute of the objectives of the recent Egypt Economic Development Conference.
“Renewable energy will help Egypt on the path to inclusive and sustainable industrial development, will make the country’s economy greener and will meet the industrial sector’s growing energy demand,” said Director General Li.
Within the wider UNIDO-GEF energy programme in Egypt, UNIDO and Egyptian Ministry of Industry, Trade and SMEs are working closely to enhance the competitiveness and productivity of the Egyptian industry through improving the energy efficiency of energy intensive sectors such as iron and steel, cement and ceramics, and contributing to a stable energy supply by introducing renewable energy application in industry, especially solar energy.
“The new project will be instrumental in building the capacity of the local supply chain for manufacturing solar energy in Egypt and is expected to contribute to creating new jobs and support entrepreneurship in the renewable energy sector. UNIDO’s expertise and resources will surely support our efforts in promoting sustainable energy in the industrial sector,” said Minister Abdel Nour.