Egypt is embarking on new investments in renewable energy to address recent blackouts and gas supply shortages, while Europe seeks alternative energy sources due to reduced supplies from Russia. The EU-Egypt Investment Conference held in Cairo aimed to enhance economic cooperation and sustainable development, with a focus on renewable energy projects. Egypt plans to become a hub for green hydrogen production by 2030, targeting 3.2 million tons annually by 2030 and tripling this by 2040. The conference saw the signing of agreements worth 67.7 billion Euros, emphasizing the importance of renewable energy and green economy cooperation. Projects for green ammonia and hydrogen, including the official operation of the Ain Sokhna green hydrogen plant, mark significant steps in Egypt's renewable energy sector. The country aims to increase the renewables share in its energy mix to 42% by 2030 and 58% by 2040. Noteworthy reforms and incentives for investments are being implemented to create a more favorable business environment, attracting investors and promoting economic cooperation between Egypt and the EU.