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Regulation: a key ingredient to foster RES investments, agreed panellists at the UfM Energy and Climate Business Forum
18 October 2017
Cairo, Egypt

Participating in the 1st UfM (Union for the Mediterranean) Energy and Climate Business Forum, hosted by the Egyptian Government on 18 October in Cairo, MEDREG advocated the crucial role of regulation and regional cooperation in supporting investment to representatives of governments, businesses and financial sector. The overall aim of the conference was to facilitate cooperation between the private sector, regulators and government officials to promote investment in renewable energy the Euro-Mediterranean Region.

Represented by Eng. Salma Hussien, MEDREG’s RES Working Group co-Chair from EgyptERA, and Mr Bardhi Hoxha from the MEDREG Secretariat, Mediterranean Energy Regulators shared their vision and exchanged views on the role of regulation with a Panel composed of representatives of international industry, intergovernmental organizations, agencies and financial institutions active in the renewable energy sector of the Mediterranean Basin. The Panel agreed on the importance of having a sound regulatory framework in the region to foster investment and provide a stable energy market, enabling the energy transition.

Her Excellency Dr. Sahar Nasr, Minister in charge of Egypt’s Investment and International Cooperation, stated that the electricity feed-in tariff reforms which were undertaken in Egypt contributed to attract investors in renewable energy, as well as international financial institutions such as the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). This provided a good example of the positive impact that regulatory reforms can have on investments.

This was further echoed by various high level participants such as Mr Jorge Seguro Sanches, Secretary of State of Energy from Portugal and Ms Anne-Charlotte Bournoville, Head of International Relations and Enlargement at DG Energy, European Commission, who also recalled the importance of having a regulatory framework in place in the country to attract private investments. These statements are in line with MEDREG’s study on Good Regulatory Principles and with our efforts to support the competence and development of Member regulators through peer review and capacity building activities.

The approach of this event responded to the UfM roadmap which aims at “fostering regional cooperation in the energy sector” addressing interconnections, interdependency, efficiency and renewable energy issues and promoting the energy mix. This event indeed represented a valuable occasion of discussion on the growing role of private sector in fostering Euro-Mediterranean energy transition.

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