Egypt’s Green Hydrogen Strategy, implemented in cooperation with the European Bank for Reconstruction and Development (EBRD) and the Arab Union for Sustainable Development and Environment (AUSDE), aims to help Egypt contribute 8% of the global hydrogen market, the Cabinet said. on a Saturday.
Egypt is capable of generating green hydrogen at the world’s lowest price, the Cabinet said, noting that the rate of hydrogen generation is expected to fall to $1. 7 per kg until 2050 from $2. 7 per kg in 2025.
The strategy will increase Egypt’s GDP from $10 billion to $18 billion by 2025, create more than 100,000 task opportunities, and decrease Egypt’s imports of petroleum products and thereby reduce emissions, the government said.
Egypt recently signed a series of memoranda of understanding on the production of hydrogen and green ammonia with foreign components as part of the country’s efforts to attract foreign investment in green hydrogen production to a transit direction for blank energy to Europe.
Last August, the Egyptian government signed a memorandum with Globeleq and Actis, two British renewable energy companies, to expand green hydrogen. The task will be developed in three phases, for a total of 3. 6 GW of electrolysers and approximately nine GW of sun and wind. Generation of force.
Globeleq aims to produce 2 million tonnes of green hydrogen consistent with the year in Egypt, the cabinet said.
Egypt is also expected to have its first 100MW green hydrogen plant in the Suez Canal Economic Zone (SCZone) at a cost of $5 billion, according to a memorandum of commitment signed with Norwegian renewable energy response provider Scatec in March.
The plant will have a production capacity of 1 million tonnes consistent with the year for expansion to 3 million tonnes consistent with the year, the Cabinet said.
The project, which is expected to go into production in 2025, will basically export green ammonia to European and Asian markets, according to a March 10 from Scatec.
This comes in most memoranda of understanding with other partners over the past year, adding Australia’s Fortescue Future Industries (FFI), Indian renewable energy company ACME Group, German energy workshop company H2 Industries and Saudi Arabia’s Alfanar to build green hydrogen plants in Egypt. . .
Egypt stepped up its green projects ahead of COP27 with plans to increase its green investments to 50% of total public investment by 2024/2025, up from 40% today.
The UN climate convention will aim for climate-causing carbon emissions to replace and address existing climate impacts.
Egypt is under pressure to devote itself to the purpose of restricting global warming to 1. 5 degrees Celsius in line with the Paris Agreement signed at COP21 in 2015.
COP27 is expected to host delegations from around two hundred countries, more than 120 heads of state and more than 40,000 participants, the number ever recorded for a meteorological summit on the continent.
In addition, more than 3,000 journalists and media professionals from around the world will cover the conference.