Egypt has signed seven Memoranda of Understanding (MOUs) with major global developers to advance projects in green hydrogen and renewable energy, with expected investments of $41 billion over the next decade. The signing ceremony was held at Egypt’s New Administrative Capital and attended by Prime Minister Mostafa Madbouly, as well as key ministers, including Mohamed Shaker, the Minister of Electricity and Renewable Energy, and Hala El-Said, the Minister of Planning.
These agreements aim to position Egypt as a regional hub for green energy, particularly in the Suez Canal Economic Zone, where the projects will be focused. The agreements align with the country’s broader strategy to promote sustainability and attract international investment in clean energy sectors. Notably, the Sovereign Fund of Egypt (TSFE) has been pivotal in these efforts, recently launching Africa’s first integrated plant for green ammonia production.
The global developers involved include prominent companies such as the UK’s Pash Global, Switzerland’s Smartenergy, South Korea’s SK Eco Plant, China State Construction Engineering Corp (CSCEC), and others from Canada, France, and Hong Kong, indicating a wide international collaboration. These projects are expected to significantly boost Egypt’s renewable energy capabilities and contribute to its sustainable development goals.
