Jun 12, 2006, 13:43 GMT
Cairo - Egyptian and German companies are to sign a memorandum of understanding to bolster cooperation in the field of generating renewable energy during the Middle East and North African Renewable Energy conference that opened Monday in Cairo.
German Environment Minister Sigmar Gabriel said that the agreement aimed at strengthening cooperation between Egypt and Germany in the use of renewable energy sources that would reduce the environmentally threatening greenhouse effect.
'It is in the interest of all people all over the world to use renewable energy,' Gabriel said.
He pointed out that generating renewable energy would be expensive in the beginning.
But Egyptian minister of electricity Hassan Younis stressed that some renewable energy sources abound, such as the sun that is found all year long in the North Africa and Middle East region, and thus could be utilized.
Younis said that Egypt and Germany have agreed to cooperate in the generation of energy from the wind and building wind stations.
Egypt and the European Union countries are part of the Euro- Mediterranean partnership known as the Barcelona process, which commits both to coordinate on scientific and technological projects.
The European Commission has allocated 11 million euros (13 million dollars) for science and technology-related projects in Egypt.
The initiative also aims to generate funds to finance renewable energy projects through a partnership between countries in the region and Europe on the one hand and on the other, through partnerships among countries in the region.
Egypt has solar energy stations in addition to a major hydraulic energy project linked to the High dam in the south of the country.
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