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.
Browsing: Egypt
The government of Egypt announced that the cabinet has approved a permit for the construction of a green ammonia project with a 1 million ton annual production capacity in the Ain Sokhna industrial zone.
Over the next ten years, approximately 100,000 megawatts of renewable energy will be used to produce green hydrogen, according to Dr. Mohamed Shaker, Egypt’s minister of electricity and renewable energy.
In accordance with a memorandum of understanding they signed, BP will look into the possibility of creating a new green hydrogen production facility in Egypt.
In order to develop, finance, and run a cluster combining green hydrogen production with solar and wind power generation, Paris-based Voltalia, and its Egyptian partner TAQA Arabia, have signed a Memorandum of Understanding with the Government of Egypt.
Egypt expects to export 50% of the EU’s green hydrogen by 2040, making it the global regional center for green hydrogen by 2030.
Vice Chairperson and CEO of ACWA Power Paddy Padmanathan predicts that by 2026, the company will invest up to $10 billion in Egypt.
The company may manufacture green hydrogen for $2–$3 per kilogram (kg) by 2026 and for less than $1 per kg by 2030 with projects in Egypt and Oman. The International Energy Agency (IEA) estimates that a kilogram of renewable hydrogen now costs $3 to $8.
In the Suez Canal Economic Zone, Globeleq and Egyptian governmental institutions have signed a Framework Agreement to work together to build a sizable green hydrogen factory.
According to Egypt’s petroleum minister, new renewable energy initiatives will make it possible for the nation to move forward with its goals of becoming a significant supplier of electricity and hydrogen to Europe.
