Forbes to Build Africa's First Hydrogen-Powered Skyscraper in Egypt
Key Ideas
- Forbes and Magnom Properties are set to construct a 50-floor hydrogen-powered skyscraper in Egypt, marking a significant leap in hydrogen innovation in Africa.
- The project, announced at the World Economic Forum in Davos, aims to lead the way for more sustainable skyscrapers in Africa and diversify hydrogen applications on the continent.
- Egypt's green hydrogen strategy and growing investor interest reflect a commitment to developing the sector, attracting more investments, and aiming to be a leader in exporting green hydrogen by 2040.
- The move towards sustainable highrises, like the proposed Forbes Tower, showcases a shift in the construction sector towards reducing emissions and utilizing clean energy, with Africa potentially generating up to 60 megatons of green hydrogen by 2050.
Forbes is partnering with Magnom Properties, a Saudi-Arabian real estate company, to construct Africa's first hydrogen-powered skyscraper in Egypt, a 50-floor building that signifies a monumental advancement in hydrogen innovation on the continent. The US$1 billion project, announced during the 53rd Annual Meeting of the World Economic Forum in Davos, Switzerland, is scheduled to commence construction in 2025 and complete by 2030 in Cairo's New Administrative Capital. Leading architect Adrian Smith envisions a 55-floor structure with flexible office spaces and high-end retail experiences, emphasizing sustainability through photovoltaic elements and a design that responds to the surroundings.
This initiative not only showcases architectural and economic significance but also represents a crucial step in Africa's hydrogen diversification efforts. With over 114GW of hydrogen capacity across 52 projects in Africa, the potential for new hydrogen applications is vast. Egypt's focus on green hydrogen aligns with its ambition to export green hydrogen by 2040, attracting up to US$40 billion in investments and signing multiple agreements with investors.
The project's announcement coincides with a global trend towards sustainable highrises and cleaner construction practices. While traditional skyscrapers contribute significantly to energy consumption and emissions, the shift towards green hydrogen offers a promising solution. For instance, Africa's Burj Zanzibar, constructed using hybrid timber, illustrates the industry's move towards more environmentally friendly materials.
Aside from Egypt, other African countries like Namibia are also embracing green hydrogen, with plans for public fueling stations and applications in the transport sector. Automakers such as BMW and Toyota are already testing hydrogen fuel vehicles, signaling a potential shift towards cleaner mobility solutions. McKinsey & Company's projections further underline Africa's potential to be a key player in green hydrogen production for both domestic use and export markets, showcasing a bright future for sustainable energy in the continent.
Topics
Green Hydrogen
Clean Energy
Innovation
Sustainability
Investment
Economic Development
Global Partnerships
Architecture
Real Estate
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