According to a report by the Information and Decision Support Centre (IDSC), Egypt’s GDP is anticipated to witness a significant increase of $10 to $18 billion by 2050 due to the expected nearly seven-fold expansion of the green hydrogen economy. This projection highlights the potential of green hydrogen projects to attract foreign investments in renewable energy sources, further enhancing Egypt’s appeal as a destination for sustainable ventures. In Fitch Solutions’ 2022 green hydrogen index for the Arab world and North Africa, Egypt ranked fifth, underscoring its progress in this domain.
The IDSC report examined various international examples, including Germany, South Korea, the European Union, India, France, Chile, and the United States of America, which have implemented legislative frameworks to foster the development of green hydrogen projects. Egypt aims to draw lessons from these experiences and leverage them to facilitate the growth of its own green hydrogen sector.
The adoption of green hydrogen as an energy source holds immense potential for Egypt’s economic growth and environmental sustainability. The significant GDP expansion projected by 2050 underscores the positive impact that a thriving green hydrogen economy can have on the country’s overall development.
By embracing green hydrogen projects, Egypt is positioning itself as a progressive player in the global renewable energy landscape. The utilization of legislative frameworks and lessons learned from international counterparts further solidify Egypt’s commitment to becoming a hub for sustainable energy initiatives, attracting foreign investments, and driving economic prosperity while reducing carbon emissions.
