Egypt's Green Hydrogen Ambitions Boosted by Indian Investment
Key Ideas
- Indian company ReNew Power plans to build a $8 billion green hydrogen plant in Egypt's Suez Canal Economic Zone, enhancing the country's status as a clean energy hub.
- Minister El-Khatib and ReNew Power's Group President discussed cooperation in renewable energy and green investments to support Egypt's sustainable economic development strategy.
- The collaboration between ReNew Power and Egypt aims to drive sustainable development, create new job opportunities, and strengthen the country's renewable energy sector.
- During the COP27 climate conference, ReNew Power and the Egyptian government signed a framework agreement to develop a green hydrogen project and its related facilities.
Minister of Investment and Foreign Trade, Hassan El-Khatib, met with Vikram Kapur, Group President at Indian company ReNew Power, to discuss the company's plans to establish a $8 billion green hydrogen plant in the Suez Canal Economic Zone (SCZONE). The project is set to contribute significantly to Egypt's ambition of becoming a regional clean energy hub. The meeting also highlighted the importance of cooperation in renewable energy and green investments to support Egypt's sustainable economic development strategy. El-Khatib praised ReNew Power's dedication to renewable energy investments in Egypt, emphasizing the positive impact on sustainable development and job creation. The collaboration between ReNew Power and Egypt, as showcased by the framework agreement signed during the COP27 climate conference, aims to propel the green hydrogen project forward, aligning with the country's goals of advancing its renewable energy sector and fostering economic growth.