Speech of Ambassador Angelina Eichhorst at the "Sustainable Energy Horizons in Egypt 2040" Event

Excellencies

Distinguished Ministers – thank you for coming – these are very busy times for Ministers in Egypt, your presence is highly appreciated …

Colleagues, Ambassadors, leaders, experts, a warm welcome to you all.

This is the day our Energy community here in Egypt and across the EU has been looking forward to. 

A sustainable energy outlook for 2040 is very ambitious in particular at times of rapid change and when we ourselves need to accelerate action at all levels. 

Allow me to take you back for one moment to this year’s World Economic Forum. A lot happened in Davos; this year’s Forum will not be easily forgotten for the reasons we all know but I wanted to recall the words of President von der Leyen who refers to the lessons we have learned in Europe to turn geopolitical shocks into in an opportunity. This is after all how the European Union was conceived, delivered, stood on its feed and walked a long way  (these are my words, not the President’s). We are living the 24/7 reality of the need for independence. This need is neither new nor a reaction to recent events. It has been a structural imperative for far longer, and is still very valid today. Yet especially since the war started on our continent, in 2022, we all went into a next gear to adapt on energy, raw materials, defence, digital – yes, we are moving fast. 

President von der Leyen explained how we currently focus on three areas: Focal point number one is to create a conducive and predictable regulatory environment. Do away with the current handbrakes on the growth and profit potential of companies. The ultimate aim is to create a new truly European company structure.

The second focus is investment and capital. We are now building the Savings and Investment Union to make sure capital flows where it is needed – to scaleups, to SMEs, to innovation, to industry. 

And our third priority and this is what I wanted to share today: building an interconnected and affordable energy market – a true energy union. Energy is a chokepoint – for both companies and households. We are working on our Affordable Energy Action Plan, investing massively in our energy security and independence, with interconnectors and grids – to bring down prices and cut dependencies. To put an end to price volatility, manipulation and supply shock. And we are speeding up this transition. Because homegrown, reliable, resilient and cheaper energy will drive our economic growth, deliver for Europeans and secure our independence. 

We are in the full urgency mind set on this. 

Which brings me to our EU-Egypt Strategic and Comprehensive Partnership. 

Egypt is today one of our most important partners in this global transformation era. We work together, hand in hand, on implementing many parts of the Green Deal, REPowerEU, Global Gateway, and now the new Trans-Mediterranean Renewable Energy and Clean Tech Initiative (T-MED) we will hear about after this Opening session – a flagship initiative at the core of our Common Mediterranean Space - our Pact for the Mediterranean. 

With Egypt, one of our closest partners, we work on building a strategic architecture, fully recognising our common interests, which are intertwined and nearly inseparable. Egypt is not merely participating in the Mediterranean transformation. Egypt is anchoring it. 

The strategic location, crossroads Africa, the Mediterranean, Europe, Asia - Egypt links energy systems, markets and development pathways. From renewable electricity and grid interconnections to natural gas, green hydrogen and sustainable fuels, Egypt is laying the foundations of a new energy geography – one in which the Mediterranean is a hub of production, innovation, value creation. A strategic pillar, a stabilising anchor and a bridge between continents and markets.

But let us be clear: adjustments can no longer be incremental. We need to move in parallel. We need to rebuild entire energy systems, reindustrialising economies, redesigning infrastructure, reskilling societies – all simultaneously. 

And this is where we, on our side, bring all European institutions, member states, financial institutions, development banks, private sector partners together. All in one. 

We can’t work any longer with fragmented approaches (or ‘projects’), isolated loans, overlapping ‘partnerships’, inefficiency. Together with our partners in Egypt we work to mobilise capital that matches ambition, reduces risk, attracts private investors and unlocks actions once thought impossible. 

Yet when we talk about growth and investments we should not overlook disparities and inequalities. This is also what Europe stands for. Growth should not come at the expense of the vulnerable, investments should not exhaust the planet, prosperity is only valuable and sustainable when it is shared and not concentrated. 

And we work hand in hand with next generations; youth shaping this transformation, shaping opportunities for the future, working together on a strategic Mediterranean corridor, not only for energy, but also for renewable electricity, green hydrogen, sustainable flows and industrial decarbonisation. 

I am glad we are signing today the Egypt Green Hydrogen and the Egypt Grid Modernisation and Expansion agreements, which will substantially advance Egypt's renewable energy transition.

Redefining supply chains, industrial geography and regional leadership.

A corridor of stability, prosperity and resilience – for all.

Thank you