Browsing: Egypt

Egypt Unveils Tax Incentives to Propel Green Hydrogen Investments

Egypt has announced a comprehensive set of tax incentives aimed at catalyzing investments in green hydrogen projects. Mohammed Maait, the Finance Minister, unveiled these incentives during an investment conference in Istanbul, underscoring Egypt’s commitment to green energy and environmental sustainability.

green hydrogen

Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, recently sat down with Andreas Matthe, CEO of Siemens Smart Infrastructure’s Electrical Products Business Unit. The meeting, attended by Mostafa El-Bagoury, CEO of Siemens Egypt, and Mohamed Badran, Head of Siemens Egypt’s LV and MV business, aimed to explore collaboration opportunities in Egypt’s electricity and renewable energy sector and potential investments.

Egypt's Ambitious Ascent to Global Green Hydrogen Prominence

Egypt is positioning itself to emerge as a global hub for green hydrogen production. The country’s Oil Ministry Undersecretary for Projects, Ahmed Khalifa, has unveiled an extraordinary vision to harness Egypt’s abundant solar and water resources. This vision is backed by multi-billion-dollar projects and collaborations with major industrial players.

DEME's $3 Billion Bet on Green Hydrogen in Egypt

Belgian company Dredging Environmental and Marine Engineering NV (DEME) is gearing up to invest a colossal $3 billion in a groundbreaking green hydrogen production project in Egypt. This ambitious project aims to serve the growing demands of European markets for clean hydrogen.

Green Hydrogen H2 News

These incentives encompass substantial tax breaks, ranging from 33 percent to 55 percent of due taxes, aimed at stimulating green hydrogen production. Additionally, the government is encouraging the local production of electric vehicles to further enhance the country’s eco-friendly initiatives.

Green Hydrogen H2 News

In the ever-evolving landscape of global energy, hydrogen has emerged as a powerful contender in the race towards clean and sustainable fuels. At the forefront of this transition is Egypt, a nation with ambitious plans to harness the potential of hydrogen as a game-changer in the energy market. But Egypt’s vision goes beyond its borders; it calls for the establishment of a global entity akin to OPEC, one that can coordinate the fragmented hydrogen market and foster cooperation rather than competition.

Green Hydrogen H2 News

Egypt’s vision of becoming a global player in the green hydrogen sector took significant strides forward as Chairman of the General Authority for the Suez Canal Economic Zone, Walid Gamal El Din, concluded a successful visit to the Netherlands. During his visit, he engaged in extensive discussions with major international companies in the maritime transport, port, and ship bunkering industries, both for traditional and green fuels.