Egypt.. 4.4 billion dollars private sector investments in renewable energy

Recent official data revealed that the private sector is currently investing about 4.4 billion dollars in renewable energy projects in Egypt, and these projects include a combination of solar energy, wind energy and hydroelectric energy projects.

the Ministry of Planning and Economic Development predicted in a recent report that offshore wind projects will lead the largest part of the growth in renewable energy capacity in the coming years.

the Ministry referred to the International Energy Agency's expectations for an increase in Egypt's renewable energy capacity by 65% by 2027. She stated that by 2027, Egypt is expected to provide more than 25% of the total renewable energy capacity in the Middle East and North Africa region.

The green hydrogen

The National Council for Green Hydrogen in Egypt agreed to a comprehensive strategy that sets ambitious goals to secure Egypt's position as a major contributor to the global hydrogen market, to obtain a share ranging from 5% to 8% by 2040 and to reduce carbon emissions by up to 40 million tons per year by 2040.

And the Ministry of Electricity and New and Renewable Energy in Egypt plans to acquire about 8% of the global production of green hydrogen. It is expected that the green hydrogen projects will save approximately 37 million tons of carbon dioxide emissions annually.

$85 billion investments

Official data indicates that the total investments in the sector currently amount to about 85 billion dollars. It is targeted that Egypt annually produce quantities of green hydrogen up to 1.5 million tons per year by 2030 by relying on 19 thousand megawatts of energy generated from solar and wind energy projects. 

It also plans to produce approximately 5.8 million tons of green hydrogen by 2040, relying on approximately 72 thousand megawatts of renewable energies. And about 3.8 million tons will be available for export, which represents 5% of the global green hydrogen production market.

A few days ago, the New and Renewable Energy Authority began handing over land to about 23 investors, who had signed agreements to implement green hydrogen production projects with a total capacity of up to 100,000 megawatts. The authority was also able to conclude agreements with 9 new investors for the production of green hydrogen with a total capacity of up to 15 thousand megawatts.