$18 billion... Egypt's plan to achieve sustainable energy

With regard to the use of renewable energy, the media center of the Egyptian Cabinet published a report in which it shed light on Egypt's plans to achieve energy sustainability.

·         Sustainable Energy Strategy 2035

The report referred to Egypt's efforts and its sustainable energy strategy until 2035, which aims to increase the contribution of renewable energy to the electricity mix.

As for the targeted returns from the strategy, they include increasing the gross domestic product from 10 to 18 billion dollars by 2025, in addition to that it will create more than 100,000 new jobs, in addition to contributing to reducing Egypt’s imports of petroleum products, as well as reducing carbon emissions.

·         16 memorandums of understanding

The report of the Egyptian Media Center indicates that 16 memoranda of understanding have been signed for projects within the industrial zone in Ain Sukhna and East Port Said, with the aim of establishing industrial facilities and complexes for the production of green fuel and its use for ship supply purposes or export to foreign markets, with investments that may reach more than 20 billion dollars.

·         Norwegian company "Scatec"

Among the memorandums of understanding is a memorandum of understanding with the Norwegian company "Scatec", which aims to produce 1 million to 3 million tons per year of green ammonia.

·         Indian group "ACME"

This is in addition to targeting the production of the Indian "ACME" group of 2.2 million tons annually of green fuel.

The Australian company, FFI Fortescue Future Industries, is targeted to produce more than 2 million tons of green ammonia annually.

·         British company "Global E"

 The British company, Global E, aims to produce about 2 million tons per year of green hydrogen.

Saudi "Al-Fanar" company

In addition, the Saudi "Al-Fanar" company aims to produce 500,000 tons of green fuel annually.

·         H2 Industries

As well as the establishment of the German company H2 Industries, the first plant for converting waste into green hydrogen, with a production capacity of 300,000 tons per year, in the East Port Said Industrial Zone.

·         Huge investment

For his part, Dr. Mahmoud Mohieldin, the pioneer of the Egyptian presidency of the Climate Summit, said that the preparation for the conference is not limited to the event sites, but in all of Sharm El-Sheikh, which he described as "green and developed."

He explained that the preparation of the conference included huge investments, as it has a continuous return for a long time, represented in the development of the infrastructure, hotel and hosting places, and the conference hall, which became more distinguished.

He pointed out that the participants expressed great satisfaction with the measures taken in organizing the conference and the places equipped for negotiators.

He noted that the conference is held to negotiate some items and also to implement the pledges, stressing that the agenda should reflect the aspirations and interests of different countries.

Sharm El-Sheikh will witness the procedural opening of the United Nations Summit on Climate Change (COP27), which will be held until 18 November.