Cop 27 host country Egypt looks to have achieved a breakthrough in attempts to snag funding for its multi-GW renewables plans.

“I’m pleased to announce today, alongside the European Union and Germany, a $500mn package to finance and facilitate Egypt’s transition to clean energy,” US President Joe Biden told the Cop 27 audience on 11 November. The initial $500mn funding for the ‘energy pillar’ of Egypt’s ‘Nexus on Water, Food and Energy’ (NWFE) initiative will come half from Germany and half from the US. (CONTINUED - 1156 WORDS)