Shanghai: As part of Egypt's strategy to localize industry and increase the share of local components in national projects - particularly in renewable energy and battery storage technologies - Minister of Electricity and Renewable Energy Mahmoud Esmat met with top executives from China's Sungrow Group during his visit to Shanghai for the Renewable Energy and Clean Energy Solutions Conference. According to State Information Service Egypt, in his meeting with Sungrow's Chairman James Wei and Vice Chairman Thompson Ming, the two sides explored prospects for establishing a battery storage manufacturing facility in Egypt, alongside solar energy components, as part of Egypt's national energy strategy and commitment to expanding renewable energy. The discussions addressed the company's contribution to Egypt's renewable energy projects in recent years, and the mutual benefits of setting up a plant in Egypt given the growing market demand and Egypt's favorable trade agreements with neighboring regions. The proposed collaboration also aims to transfer advanced manufacturing technology to Egypt. Minister Esmat reaffirmed Egypt's commitment to supporting the localization of renewable energy industries, in line with national plans to raise renewable energy's share in the energy mix to over 42% by 2030 and 65% by 2040. He highlighted Egypt's solid infrastructure, enabling legislation, and strategic geographic position, positioning the country as a regional energy hub connecting African, Middle Eastern, and European markets. The minister also referenced Egypt's ongoing regional interconnection projects with countries like Sudan, Libya, Jordan, Saudi Arabia, and forthcoming projects with Greece and Italy, emphasizing that such ventures boost regional energy integration while creating strong incentives for global manufacturers to invest and establish production bases in Egypt.