Egypt is advancing towards a sustainable future by prioritizing green hydrogen projects, positioning itself as a major player in the global transition to renewable energy sources.

The country has taken a significant step towards establishing itself as a green hydrogen hub by signing seven memoranda of understanding (MoUs) with international developers. These agreements can generate investments worth $40 billion over ten years.

Planning Minister Hala al-Said revealed that the project’s initial phase would require a $12 billion investment, followed by an additional $29 billion in the first full phase. These figures underscore Egypt’s commitment to developing the green hydrogen sector, further evidenced by establishing the National Council for Green Hydrogen in 2023.

Prime Minister Mostafa Madbouly leads the council, which includes members such as the ministers of electricity and renewable energy, petroleum and mineral resources, finance, environment, and the Executive Director of Egypt’s Sovereign Fund. 

The council, chaired by Prime Minister Mostafa Madbouly, comprises members including the ministers of electricity and renewable energy, petroleum and mineral resources, finance, environment, and the Executive Director of Egypt’s Sovereign Fund.

Egypt’s dedication to green hydrogen is highlighted by a $4 billion agreement signed with Saudi Arabia’s Acwa Power in December 2023. This project aims to produce 600,000 tons of green ammonia annually, highlighting Egypt’s collaboration with international partners in advancing sustainable energy solutions.

In addition to the agreement with Acwa Power, Egypt signed several other green hydrogen deals last year, including a $4 billion preliminary agreement with Indian firm Ocior. These partnerships are instrumental in positioning Egypt as the region’s key producer of green hydrogen and renewable energy.

The emphasis on green hydrogen aligns with Egypt’s National Climate Strategy 2050, which prioritizes reducing carbon emissions and promoting renewable energy sources. With ambitions to become the world’s lowest-cost green hydrogen producer by 2050, Egypt targets a price of $1.7 per kg and aims to capture 8% of the global market.

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