Egypt's Project Kemet: Local Focus on Green Hydrogen Production
Key Ideas
- Project Kemet in Egypt aims to cater to local customers with green hydrogen production.
- The project development risk for the Egypt Green Hydrogen site is low due to a secured 20-year offtake agreement by developer Scatec.
- State-backed German investment fund provides €30 million to finance a green hydrogen project, supporting Egypt's energy transition.
- Egypt sets a target of producing 1.5 million mt/year of green hydrogen, showcasing a commitment to sustainable energy practices.
Project Kemet in Egypt is focused on producing green hydrogen for local customers. The project is set to benefit from a low development risk after securing a 20-year offtake agreement, ensuring a stable market for its output. Furthermore, a state-backed German investment fund has allocated €30 million to support a green hydrogen project, indicating external support for Egypt's sustainability initiatives. The Egyptian government's announcement of a target to produce 1.5 million metric tons per year of green hydrogen further emphasizes the country's commitment to transitioning towards cleaner energy sources. These developments highlight a positive outlook for green hydrogen production in Egypt and signify a step towards achieving environmental goals in the region.