The two sides discussed the requirements of green hydrogen projects in the integrated Sokhna region, whether a water desalination plant, The service corridor, tank farm, as well as the liquid bulk station, serve the production, transportation and storage of green hydrogen.
The prime minister ordered the executive committee to speed up the approval process for green hydrogen projects and provide exceptional incentive packages to the first companies that sign final contracts.
Ocior Energy will invest around $4 billion to build the project, local media reported.
In the near future, green fuel bunkering will be available as well.
The change is in line with the zone’s strategic efforts to encourage green hydrogen projects and foster partnerships in the renewable energy sector
The report states that the number of foreign direct investment (FDI) projects into Egypt increased by more than 150 percent to reach 148 projects in 2022, representing an estimated capital investment of $107 billion.
President Abdel Fatah al-Sisi received Monday CEO of Scatec Terje Pilskog holding talks on the projects carried out by the company in the fields of renewable energy and green hydrogen.
President Abdel Fatah al-Sisi received Thursday Austrian Chancellor Karl Nehammer at Al Itihadiyah Presidential Palace to hold talks, and later, they held a joint press conference.
Chairman of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba held a meeting Wednesday with the representatives of Mytilineos Holdings.
Egypt’s President Abdel Fattah El-Sisi ordered on Saturday continuing the implementation of national plans related to enhancing the role of renewable energy, the Presidency said in a statement.
The diplomat had a meeting with Kadri Simson, the EU Commissioner for Energy, Belgian Energy Minister Tinne Van der Straeten and a host of key officials of the EU and Belgian energy companies.
The MoU was signed in Cairo on May 30, 2022, according to which France provides a grant not exceeding €500,000 from the French Development Agency (AFD).
Minister Shaker noted that renewable energy will be a source of income for Egypt like oil over the next few years.
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.
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.
The value of the projects to be established per those agreements is $85 billion.
The signing took place between the fund and nine developers on the sidelines of COP 27 hosted by Egypt in Sharm El Sheikh.
They met on the sidelines of COP 27.
President Sisi stipulated that Egypt had set a strategy to become a hub for hydrogen production on the medium and long run.
German Chancellor Olaf Scholz said that his expectations for the future are that there will be a point when all government projects and the business sector will switch to using green hydrogen as a primary source.