Green Hydrogen
The study stated that Egypt pays great attention to the energy sector, out of its belief and awareness of its vital and effective role as a primary driver and indicator of economic growth, bearing in mind that the implementation of an integrated and sustainable energy strategy is one of the most important pillars of economic and social development.
The project will involve investments worth $2 billion, according to a statement from SK Ecoplant. The companies aim to have the project fully operational by 2029
The agreements include investments of $12 billion for the pilot phase and approximately $29 billion for the first phase
During the meeting, El Menshawy explained that the Egyptian government has made great strides in the field of green hydrogen, whether in terms of creating the appropriate environment for investments or entering into partnerships with major international companies
Madbouly said more than 1,000 private sector companies that take part in national programs which will help improve the Egyptian economy on all levels
During the meeting, Kazbekov expressed the NDB's keenness to expand investments in Egypt and foster closer collaboration between the bank and the electricity sector
The proposed project will be strategically located near the Jarjoub sea port and the Jarjoub Special Economic Zone, demonstrating Egypt's commitment to utilizing its advantageous geographical position
The draft law provides tax and non-tax incentives, in light of Egypt’s direction towards optimizing the production, use and export of clean green energy and establishing projects for the production of green hydrogen and its derivatives like green ammonia and green fuel.
The President gave directives for the government to begin implementing the projects that had been agreed upon, and provide the necessary infrastructure for them, stressing that shifting to sustainable energy is one of the basic elements of Egypt’s Vision 2030, and reflects Egypt’s interest in comprehensive development, in addition to its economic returns, which represent a real addition to national development.
By aiming to capture 5 to 8 percent of the global hydrogen market, the country seeks to make significant contributions to the reduction of carbon dioxide emissions, targeting a decrease of 40 million tons annually.
Maait stated that the government has recently introduced new incentives to support the transition to a green economy, focusing on promising sectors with regional and global priority.
Shaker added that an international consultant from Belgium was contracted to conduct a comprehensive study of the cost of supporting and developing the electricity transmission network in Egypt.
Shaker added that Egypt's strategy for producing low-carbon hydrogen is being finalized in preparation for its presentation to the National Hydrogen Council and its approval by the Supreme Council of Energy soon.
Source at the New and Renewable Energy Authority told Youm7 Tuesday that Egypt's first green methanol plant to enter service in 2026 at SCzone.
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.
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