Egypt Aiming to Dominate Global Green Hydrogen Market with Japanese Investment
Key Ideas
- Egypt aims to control 8 percent of the world's green hydrogen market by 2040, with Japan playing a key role in funding projects.
- The General Authority for Investment and Free Zones (GAFI) in Egypt is working on expanding cooperation with the Japan Bank for International Cooperation (JBIC) to secure financing for green hydrogen projects.
- The government of Egypt is looking to not only become a major green hydrogen producer but also a significant exporter of renewable energy to Europe.
- More projects are expected to be awarded in the coming years, paving the way for increased Japanese investments in renewable energy projects in Egypt.
Egypt is strategically positioning itself to emerge as a major player in the global green hydrogen market, with plans to control 8 percent of the market by 2040. The country has been actively seeking investments and partnerships to support its green hydrogen initiatives, with a focus on securing funding for upcoming projects. The CEO of the General Authority for Investment and Free Zones (GAFI) in Egypt, Husam Haiba, highlighted the importance of collaborations with the Japan Bank for International Cooperation (JBIC) to drive Japanese investments in renewable energy projects in Egypt. These partnerships are expected to contribute significantly to Egypt's goal of not only becoming a top green hydrogen producer but also a key exporter of renewable energy to Europe. With more projects set to be awarded in the near future, Egypt is on track to attract further investments and strengthen its position in the global renewable energy market.