With investments amounting to $85 billion.. Egypt is expanding green hydrogen projects
The projects will also contribute to providing more than 100,000 new jobs in the event of increased use of local capabilities in the hydrogen industries
Shrouq
In light of the country's trend towards producing clean energy, the Ministry of Electricity and Renewable Energy, with international and local alliances, will sign contracts for 4 huge projects to launch projects to produce fuel from green hydrogen, with investments estimated at $30 billion.
international companies
Among the entities signed with today are the Emirati “Masdar”, the Saudi “ACWA Power”, and other local and international companies that have not been disclosed, and the total capacities of the four expected projects reach about 8 thousand megawatts.
The signing today comes as an implementation step for the framework agreement between government agencies in Egypt and companies to develop a green hydrogen project.
The companies are still conducting measurements and studies on the lands for the projects in preparation for obtaining them and starting the privatization procedures, provided that the bulk of their production is destined for export.
energy crisis worldwide
Dr. Mohamed Shaker, Minister of Electricity and Energy, said that the ministry aims to be part of the solution to the energy crisis worldwide in light of the strategic plans to expand green hydrogen projects after signing memorandums of understanding, which are the largest in the world, with capacities of up to 24,000 megawatts of electrolysis capacity, the size of investments. up to $85 billion.
Shaker added that Egypt has the capacity to produce green hydrogen at the lowest cost in the world, starting from $2.68 per kilogram in 2025, and the returns for the ministry’s strategy to expand these projects are represented in increasing Egypt’s gross domestic product in the range of (10-18) billion. dollars by 2025.
100,000 new jobs
The projects will also contribute to providing more than 100,000 new jobs in the event of increased use of local capabilities in the hydrogen industries, and contribute to reducing Egypt’s imports of petroleum materials, and achieving national targets related to reducing carbon emissions, in a way that enhances Egypt’s contribution to achieving the global target related to reducing carbon emissions. globally by 55 million tons annually by 2050.
The total subscribers of the Ministry of Electricity reach 38 million, and the domestic sector accounts for the lion’s share of it, followed by commercial, industrial and government, while Egypt’s total production of electric energy is approximately 60,000 gigawatts, and the surplus is 25,000 megawatts.
