Saudi Arabia and Egypt have boosted their energy cooperation by signing new agreements, on the sidelines of Egypt Energy Show 2025 in Cairo.
The Saudi Minister of Energy, Prince Abdulaziz bin Salman, the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, and Minister of Electricity and Renewable Energy, Mahmoud Esmat, on Monday signed an executive plan to enhance cooperation in the field of energy efficiency according to Asharq Al-Awsat.
Enhancing Energy Efficiency
The executive plan will cover several areas of cooperation, including establishing a national program for energy efficiency in Egypt, assessing the feasibility of creating a joint entity specializing in implementing energy efficiency projects, and exchanging expertise and best practices in energy efficiency.
Moreover, the plan aims to provide the technical support, facilitate knowledge sharing, strengthen capacity building, raise awareness, and enhance funding and investment opportunities. The plan also aims to develop energy service companies and enhance infrastructure for projects that aim to improve energy efficiency.
The signing of the landmark agreement took place with the presence of the Egyptian President, Abdel Fattah Al-Sisi, and the Cypriot president, Nikos Christodoulides, following the inauguration of the eighth edition of the Egypt Energy Show (EGYPES 2025) conference and exhibition at the Al-Manara International Conference Center in New Cairo.
Strengthening Cooperation
Speaking at the event, the Saudi Energy Minister, Prince Abdulaziz bin Salman, underscored the deeply-rooted relations between Saudi Arabia and Egypt at all levels, emphasizing the Kingdom’s commitment to strengthening energy cooperation with Egypt. He also pointed to numerous joint initiatives in the field of energy, aimed at fostering regional energy security and sustainability.
Furthermore, he noted that both countries share a responsibility to lead the energy sector transformation, according to the Saudi Energy Ministry. He also said that Riyadh and Cairo collaboration align with the goals of Saudi Vision 2030 and Egypt’s strategic energy transformation plans.
Boosting Renewable Energy Collaboration
Prince Abdulaziz mentioned the bilateral cooperation in the field of renewables. In this context, Saudi companies launched 5 solar and wind energy projects in Egypt. These projects have a capacity of 1.696 GW and an investment of approximately SAR 6.2 billion. The Saudi companies involved in these projects include ACWA Power, Alfanar, FAS, and MOWAH.
Moreover, ACWA Power signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company to develop a 2 GW wind energy project in South Hurghada. Worth about SAR 8.6 billion, this investment will be the largest of its kind in Egypt.
Mega Electricity Project
Among the joint projects mentioned was the Saudi-Egypt Electricity Interconnection Project, an important step to deepen energy cooperation between both countries.
The significant investment, with an estimated value of SAR 6.7 billion, is set to be the largest in the region, facilitating the exchange of 3,000 MW of electricity upon completion.
