Egypt to invest $4 billion in green hydrogen
CAIRO, June 14, 2021 – Egypt’s minister of electricity and renewable energy has revealed plans to invest USD 4 billion in a green hydrogen project, local media reported on Monday.
Minister Mohamed Shaker said the project is in the feasibility stage and is under discussion by the Sovereign Fund of Egypt and a group of concerned ministries, according to the Arab News.
Egypt expects to reach a 20% share of renewables in its energy mix by the end of 2021 – compared to just 5% in 2014.
So far, an area of 7,000 square kilometres has been allotted to renewables projects, Shaker said.
Egypt has significant potential in solar and wind, which it expects to make up 25% and 14% of its energy mix, respectively, by 2035.