TaQA Arabia expects about LE 32 billion in investments during the period from 2023 to 2027. It also seeks to increase natural gas supply stations to 100 stations during 2023.
The initial phase of the project includes a new green hydrogen production plant with a capacity of 15,000 tons per year near Ain Sukhna port in the Suez Canal Economic Zone.
The new funding comprises a $ 4.95 million loan from the EBRD and a $ 550,000 concessional loan from the Global Environment Facility (GEF) to finance the construction and operation of a 7 MWp solar photovoltaic (PV) project in El Minya.
"The oil and gas sector development strategy has led to the signing of 98 international agreements with a minimum investment of $16 billion,” Tarek el-Molla commented.
The three firms include BB Energy Trading and Qalaa Holding’s TAQA Arabia.