Green Hydrogen
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.
The plant is located in Ain Sokhna, and the capacity of its first phase is 100 megawatts.
The declaration of intent was signed by the Egyptian side, Tarek El-Molla, Minister of Petroleum and Mineral Resources, by the German side, Robert Habeck, German Vice-Chancellor and Federal Minister for Climate Action and Economic Affairs.
President El-Sisi was also briefed on progress in electricity interconnection projects with neighboring countries, especially Saudi Arabia, Greece and Cyprus.
This came as President Sisi met in Egypt with Chairman of FFI Andrew Forrest in the presence of Minister of Electricity and Renewable Energy Mohamed Shaker, and Minister of Petroleum and Mineral Resources Tarek El Molla, the Presidency said in a statement.
The study explains that this comes in light of the government’s efforts to diversify the basket of energy sources in recent years, where opening the door for investments in green hydrogen is considered a promising field in the event of overcoming various challenges.
The study explains that this comes in light of the government’s efforts to diversify the basket of energy sources in recent years, where opening the door for investments in green hydrogen is considered a promising field in the event of overcoming various challenges.
The international consortium includes the British Globeleq Company, the Saudi Alfanar Company, the Emirati Alcazar Energy Company, the Emirati K & K Company, and the American-Egyptian MEP Energy Company.
Recently, Egypt has signed a series of deals with global companies for green hydrogen production in the Suez Canal Economic Zone, including India's ReNew Power, Norway's Scatec, Germany's H2-Industries, and Abu Dhabi Future Energy Company (Masdar).
Zaki said that the economic zone aims to enhance cooperation with some companies that are members of the Federation of Indian Chambers and to study investment opportunities in the textiles, chemicals, programming, information technology and operating systems sectors, as well as the industries of auto engine parts, devices and medical supplies.
