These agreements will provide investments for the pilot phase valued at $12 billion, in addition to about $29 billion for the first phase, according to a statement by Minister of Planning and Economic Development, Hala El Said
Egypt signed 7 agreements with international developers to implement green hydrogen and renewable energy projects in the Suez Canal Economic Zone (SCZONE) within 10 years, with over $40 billion in investments.
These agreements will provide investments for the pilot phase valued at $12 billion, in addition to about $29 billion for the first phase, according to a statement by Minister of Planning and Economic Development, Hala El Said.
The 4 Egyptian entities who signed the agreements are: The Sovereign Fund of Egypt (TSFE), the SCZONE, the New and Renewable Energy Authority, and the Egyptian Electricity Transmission Company. The signing ceremony was in the presence of Prime Minister, Mostafa Madbouly.
El Said explained that the TSFE succeeded months ago, in launching the first integrated plant for producing green ammonia in Africa and emerging markets in partnership with a number of international companies.
Under the framework of Egypt’s strategy to advance investments in green energy sector, she added that the TSFE seeks to promote Egypt as a regional center for green energy.
