Voltalia and its partner TAQA Arabia have signed a framework agreement at the Egypt-EU Investment Conference 2024 in Cairo, aiming to develop a cluster that combines renewable energy and green hydrogen production. The project, located near Ain Sokhna port in the Suez Canal Economic Zone, will feature 500-megawatt electrolyzers powered by over 1.3 gigawatts of solar and wind energy. Each phase of the project is expected to produce over 130,000 tons of hydrogen annually. The CEOs of both companies highlighted the potential for Egypt to lead in green hydrogen production and transition towards a green economy. They emphasized the significance of the project in supporting Egypt's sustainable development goals and reducing reliance on fossil fuels. The partnership reflects a commitment to building a green economy in Egypt, aligning with the government's efforts and economic reform programs. This initiative showcases the confidence of the European Union in Egypt's economic progress and the country's dedication to increasing the share of renewable energy in its energy mix.