Cop27: Egypt announced its intention to establish itself as a center for hydrogen production and capture 5% of the world market by 2040.
Browsing: Africa
The “Green Hydrogen Forum” is launched by Belgium and Egypt with the goal of “becoming a European gateway for the import of green hydrogen.”
The collaboration will support commercial strategies, technology, and capacity-building initiatives for the deployment of low-carbon hydrogen in poor nations.
The first green hydrogen plant to be built in Egypt will receive an $80 million loan from EBRD.
The project’s overall capacity for producing green hydrogen will increase to 2,20,000 tonnes per year.
Together with the Federal Ministries for Economic Cooperation and Development (BMZ) and for Economic Affairs and Climate Protection (BMWK), KfW presented the first financing platform in the world for specialized financing of green hydrogen infrastructure at the UN climate conference in Sharm el-Sheikh and introduced its derivatives.
During Energy Day at the COP27, a new worldwide commission was established with the goal of accelerating planning and approvals for the vast deployment of renewable energy sources and green hydrogen.
The idea would have South Africa export up to 8 million tonnes of clean-burning fuel and its derivatives by 2050 and satisfy local demand of 2 to 5 million tonnes.
At COP27, organizations and projects across the maritime value chain signed a statement pledging to the fast deployment of green hydrogen-based fuels this decade.
Africa could capture up to 10% of the global green hydrogen market,
