{"id":671531,"date":"2025-09-09T00:00:00","date_gmt":"2025-09-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/uk-embassy-to-facilitate-usd-500-mn-in-renewables-investments-in-run-up-to-cop30\/"},"modified":"2025-09-09T00:00:00","modified_gmt":"2025-09-09T00:00:00","slug":"uk-embassy-to-facilitate-usd-500-mn-in-renewables-investments-in-run-up-to-cop30","status":"publish","type":"goinggreen","link":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/uk-embassy-to-facilitate-usd-500-mn-in-renewables-investments-in-run-up-to-cop30\/","title":{"rendered":"UK embassy to facilitate USD 500 mn in renewables investments in run up to COP30"},"content":{"rendered":"

The British Embas<\/strong>sy in Cairo has already helped facilitate over 60% of its USD 500 mn investment <\/strong>target for the six-month run-up period to <\/strong>COP30<\/a><\/strong>, set to be held in Brazil in November, the embassy\u2019s Senior Trade Advisor George Yunan told EnterpriseAM. The two-way investment target is part of the British Embassy-led Green Growth Campaign to \u201cdeliver a series of ambitious outcomes across commercial partnerships, strategic communications, and government engagement,\u201d Yunan explained.<\/p>\n

This isn\u2019t the UK\u2019s first foray into Egypt\u2019s renewables sector<\/strong>, with private British companies and the state having already invested some USD 1 bn, we were told. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The UK aims to become a clean energy \u201csuperpower\u201d by 2030 and reach net zero by <\/strong>2050<\/strong>, requiring annual investments of GBP 40 bn between 2025-2030, Yunan said. To reach this, the UK also plans to build \u201con our existing partnerships with regional energy hubs like Egypt,\u201d which share a mutual commitment to decarbonization.<\/p>\n

The already committed USD 305 mn are from investments from British International <\/strong>Investment (BII)<\/strong>, the UK government\u2019s development finance institution. BII committed USD 190 mn<\/a> for the USD 1.2 bn Gulf of Suez wind project developed by renewables giant Acwa Power and Hassan Allam Utilities subsidiary HAU Energy. The 1.1 GW project is set to be the continent's largest onshore wind project, reducing CO2 emissions by some 1.5 mn tons a year. Alongside this is a further USD 115 mn from BII for Scatec\u2019s 1.1 GW solar and 200 MWh battery storage project, which is split between a USD 100 mn concessional loan and a USD 15 mn returnable grant. The USD 600 mn project in Nagaa Hammadi holds the mantle of being Africa\u2019s largest under-construction solar power plant.<\/p>\n

To close the remaining gap, the embassy is looking at a variety of green sectors<\/strong>, including sustainable aviation fuel, water, green transport, and green energy, we were told. To persuade investors to commit funds to renewable projects, the embassy facilitates \u201ccollaboration through inward and outward trade missions, helping to build direct connections between UK and Egyptian stakeholders,\u201d Yunan said. These missions help \u201cfoster knowledge exchange, support deal-making, and strengthen bilateral ties in green growth sectors.\u201d<\/p>\n

\u201cLondon has once more been recognised as the number one global source of green <\/strong>finance<\/strong>, so [it] should have a key role in developing renewable energy projects here,\u201d Yunun said. The embassy works with UK companies interested in the Egyptian renewables sector, making use of its expertise and financing tools, including the government-backed export credit agency UK Export Finance. <\/p>\n

Another important pillar of the program is supporting Egypt\u2019s leadership role in the global green <\/strong>energy transition<\/strong>, which has seen the UK invite Egypt to play a prominent role in UK-hosted summits. This included notable events like the IEA Summit on the Future of Energy Security<\/a>, with this type of coordination set to continue in the run up to COP30, we were told.<\/p>\n

UK expertise in the sector is also on offer<\/strong>, with the embassy looking to share \u201cthe UK\u2019s world-class expertise in regulatory reform, carbon markets and pricing, grid management, and sectoral capacity-building,\u201d Yunan said. Closer collaboration on Egypt\u2019s green transition will also come in addition to \u201ctechnical collaboration on food security and water resilience [which] will help Egypt adapt to a changing global climate.\u201d<\/p>\n

There\u2019s also plenty of green energy expertise in the UK\u2019s private sector that could be <\/strong>utilized.<\/strong> \u201cThe UK is a global leader in several green technology sectors,\u201d according to Yunan, who namechecked offshore wind, floating offshore wind, green hydrogen, carbon capture, smart infrastructure, and waste-to-energy.<\/p>\n

One area where the UK\u2019s past experience can offer valuable advice is liberalized energy <\/strong>markets. <\/strong>\u201cThe way electricity is generated, transmitted, and sold is central to unlocking Egypt\u2019s renewable energy potential,\u201d Yunan said. UK advice on regulatory frameworks and its Green Cities, Infrastructure and Energy Program helped support the government\u2019s move to issue qualification certificates to four renewable energy projects<\/a> under the country\u2019s peer-to-peer system. This cleared the way for companies to directly generate and sell power to industrial consumers. \u201cFor the first time, private producers can generate and sell electricity directly to consumers without intermediaries,\u201d Yunan explained.<\/p>\n

Egypt\u2019s renewable energy sector could one day help support the region\u2019s clean energy <\/strong>needs<\/strong>, we were told. \u201cEgypt has strong potential to support clean energy needs through direct energy exports\u201d by virtue of its geographical position and solar and wind potential, Yunan said. As Egypt works toward exporting energy through existing and planned interconnector projects, the UK can use its own experience of selling energy to the EU through interconnector projects and partner with Egypt to offer guidance and support, he said.<\/p>\n

UK shipping companies could benefit from green bunkering efforts<\/strong>, which have seen substantial pledges to develop green hydrogen facilities along the Red Sea leading to the Suez Canal. \u201cGreen hydrogen is generally struggling to take-off globally, however Egypt\u2019s strategic location makes it a better bet than many other jurisdictions seeking to develop projects,\u201d Yunan said. Sustainable aviation fuel projects in Egypt could also aid the global aviation sector meet its decarbonization targets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The two-way investment target is part of the British Embassy-led Green Growth Campaign<\/p>\n","protected":false},"featured_media":671532,"template":"","categories":[7266],"tags":[7286,6742,72,7109,1130,151],"class_list":["post-671531","goinggreen","type-goinggreen","status-publish","has-post-thumbnail","hentry","category-going-green","tag-climate","tag-egypt-uk-relations","tag-enterpriseam","tag-going-green","tag-green-energy","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"4acee9e6-0d92-4cf6-87b9-5d436a3b4778","order":"13","is_powered_by":false,"story_type":"2","photo_url":"https:\/\/ent.news\/2025\/1\/1525.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UK embassy in Egypt to facilitate USD 500 mn in renewables investments in run up to COP30","related_issue":[671508],"teaser":"The two-way investment target is part of the British Embassy-led Green Growth Campaign","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.179b5560-ca9b-4904-b30d-6daa997fd14d.mp3"},"yoast_head":"\nUK embassy to facilitate USD 500 mn in renewables investments in run up to COP30 - 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