EIB: Egypt to produce 20M tons of green hydrogen by 2035

According to research by the European Investment Bank (EIB), the African Union, and the International Solar Alliance, Egypt is predicted to create 20 million tons of green hydrogen annually by 2035.

According to the report, by 2035, the African continent would be able to create green hydrogen yearly valued at €1 trillion.

According to the study, Africa would be able to export fuel and support local industry thanks to the green hydrogen created.

According to the analysis, a coalition of African nations using solar energy might create green hydrogen fuel by 2030 for less than €2 per kilogram.

According to the report, South Africa, Egypt, Morocco, Mauritania, and Namibia will all produce green fuel.

In addition, the study revealed that Egypt would be the continent’s largest producer of green hydrogen, with a capacity of 20 million tons annually. South Africa and Namibia came in second with 17.5 million tons, followed by Morocco and Mauritania, which could produce 12.5 million tons when combined.

Waleid Gamaleldien, the chairman of the general authority for the Suez Canal Economic Zone, reported that the SCZone had so far signed 23 new memoranda of understanding to localize the green fuel industry, nine of which had been converted into framework agreements to begin the establishment of the projects in accordance with the intended timelines.