CAIRO - 8 December 2022: Egypt signed seven memorandums of understanding (MoUs) with local and international companies regarding the start of studies on green hydrogen production projects, according to the Cabinet.
The Minister of Electricity, Mohamed Shaker, stated that the signatures include a number of international and local consortiums and companies, including the Saudi company "Acwa Power" and the "Benchmark" consortium, the Holding Company for Chemical Industries, the Chinese company "China Energy", the German company "DAI", the Indian company OCIOR ENERGY, the VoltaLia-TAQA consortium, and British Petroleum.
These MoUs come after the government had earlier signed other 16 ones related to green hydrogen projects concentrated in the Suez Canal economic zone, and nine of them were converted into framework agreements in November.
Spokesperson of the Ministry of Electricity and Renewable Energy Ayman Hamza stated, on Nov. 17, that the nine green hydrogen agreements Egypt had signed would curb carbon emissions by 39 million tons a year.
The value of the projects to be established per those agreements is $85 billion, creating 45,000 direct jobs and 230,000 indirect jobs. The spokesperson clarified that the green hydrogen would be produced through wind and solar energy.
President Abdel Fatah al-Sisi announced, on Nov. 8 at COP 27 in Sharm El Sheikh, the operation of the first phase of Egypt's hydrogen plant, which has been established in partnership with Norway's Scatec.
The plant is located in Ain Sokhna, and the capacity of its first phase is 100 megawatts.
In August, the Egyptian government signed seven MoUs with foreign companies specialized in the production of renewable and new energy, to establish industrial complexes for the production of green hydrogen in the industrial zone in Ain Sukhna, with expected investments of more than $30 billion.