Egypt signs 7 new MoUs for green hydrogen projects

Egypt has signed on Wednesday seven new memoranda of understanding with local and international companies to study projects for the production of green hydrogen and its derivatives, a Cabinet statement said on Wednesday.

According to the statement, the agreements were signed with Saudi Arabia’s ACWA Power in addition to a consortium comprising Benchmark Power International (BPI), Chemical Industries Holding Company (CIHC), China Energy, Germany’s DAI, and India’s Ocior Energy, as well as another consortium involving TAQA Arabia, France’s Voltalia, and BP.

They have signed the MoUs with the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) – on behalf of the Egyptian Ministry of Electricity and Renewable Energy – besides the Sovereign Fund of Egypt (TSFE) and the General Authority of the Suez Canal Economic Zone (SCZone).

The signing ceremony took place at the Egyptian Cabinet’s headquarters in Cairo in the presence of Prime Minister Moustafa Madbouly, Electricity Minister Mohamed Shaker, Planning Minister Hala al-Saeed, and Public Enterprise Minister Mahmoud Esmat.

The government had previously signed 16 MoUs for green hydrogen projects concentrated in the Suez Canal economic zone, nine of which it converted into framework agreements last month at the UN Climate Change Conference (COP27).

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