CAIRO - 11 January 2023: Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, confirmed that Egypt has started extracting green ammonia in cooperation with the private sector, but with limited capabilities, stressing that all agreements signed during 2022 will come to light during the new year.
Shaker explained that 9 framework agreements were signed to implement green hydrogen production projects and its derivatives using renewable energies from wind and solar energy with capacities of up to 47,000 megawatts and 24,000 megawatts of electrolysis capabilities. He added that investments amounted to $85 billion, while direct job opportunities amounting to 45,000 and indirect job opportunities amounting to 230,000.
The minister stressed that the ministry pays great attention to green hydrogen extraction projects by relying on renewable energy from the sun and wind to analyze water to generate green hydrogen gas. He stressed that it is considered one of the least expensive and environmentally friendly sources of electricity production and is considered the fuel of the future during the next 10 years, so the Ministry of Electricity places the implementation of green hydrogen projects at the top of its priorities.
Engineer Mohamed Shaker, Minister of Electricity, confirmed that the production of green hydrogen in Egypt will be through foreign investment, explaining that all investments in this field come from abroad.
The Minister of Electricity said that the ministry had developed a plan from 2014 so that subsidies on electricity in Egypt would be completely lifted, but the change in the exchange rate affected the price of the electricity tariff, and therefore if the same electricity price was maintained during the next two years, there would be a significant increase in targeted subsidies. for the electricity sector.
He added that since 2019, we have set a schedule until the year 2057 regarding our commitments, and we have informed the Central Bank Governor of this matter, and he also pointed out that the government is moving in all directions to provide the needs of Egyptians for electrical energy.