South Korea, Egypt sign clean energy and power infrastructure MOUs

South Korea and Egypt have agreed to exchange policies on solar power, nuclear energy and transmission and distribution network expansion technology, a move expected to open new doors for South Korean companies in the Egyptian market.

The Ministry of Climate, Environment and Energy said Thursday it signed two MOUs with Egypt's Ministry of Electricity and Renewable Energy on the sidelines of a South Korea-Egypt summit at Cheong Wa Dae.

The agreements cover cooperation in the clean energy sector and the establishment of a cooperative relationship in power infrastructure.

Under the clean energy MOU, the two countries agreed to pursue policy and information exchanges covering solar, wind, biomass, waste-to-energy and the peaceful use of nuclear power.

On the power infrastructure side, the two sides agreed to share relevant policies and technology in areas including transmission and distribution network expansion, aging facility upgrades, high-voltage direct current (HVDC) transmission and energy storage systems (ESS).

The two countries plan to expand exchanges between institutions and companies in the clean energy and power infrastructure sectors and to identify joint projects.

"This MOU signing has laid the groundwork for broadening the scope of energy cooperation between the two countries, from clean energy to power infrastructure," Minister of Climate, Environment and Energy Kim Sung-hwan said. "We will actively support efforts to translate the experience and technology of both countries into concrete cooperative projects and overseas expansion for our companies."