Egypt Secures Billions in Renewable Energy Deals for EU Export
Key Ideas
  • Egypt-EU Investment Conference in Cairo leads to €40 billion worth of renewable energy export deals.
  • Major agreements signed for green hydrogen and green ammonia production projects in various regions of Egypt.
  • Projects aim to supply Europe with significant amounts of green fuel annually, contributing to sustainable energy goals.
  • Renewable energy plants and infrastructure developments planned to support the production and export of green energy.
Egypt has recently finalized multiple renewable energy deals worth billions of dollars aimed at exporting green hydrogen and green ammonia to the European Union. The agreements were reached at the Egypt-EU Investment Conference in Cairo. These deals, totaling €40 billion, include a notable project involving the General Authority for Alexandria Port, Egypt’s NREA, and an international consortium led by Belgium’s DEME HYPORT Energy, focusing on green hydrogen and green ammonia production. Another significant project, requiring a total investment of €24 billion, will be established in Gargoub, with plans to supply up to two million tons of green fuel annually to meet EU energy demands. Other agreements for green hydrogen and green ammonia production were signed in Ras Shukeir and Damietta, involving various national and international companies. These projects aim to produce substantial amounts of green ammonia and hydrogen annually from renewable sources. The initiative also includes the development of renewable energy plants to support the operations. Overall, these agreements signify Egypt's commitment to sustainable energy practices and its efforts to become a key exporter of renewable energy to Europe.
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