The Egyptian government has announced the launch of the National Low-Carbon Hydrogen Strategy as part of an effort to transition to a low-carbon economy and promote environmental sustainability.
Prime Minister Mostafa Madbouly stressed the importance of this step in achieving the sustainable development goals detailed included in Egypt Vision 2030. This will contribute to diversifying sustainable and clean energy resources, in addition to limiting carbon emissions which aligns with the state’s commitment to confront climate change.
Cabinet Spokesman Mohamed El Homsani said that this strategy depends upon exploiting the geographical location of Egypt and its natural resources, especially solar and wind energy, to support the production of low-carbon hydrogen. It also aims at advancing the cooperation with international partners and financial institutions to foster the development and investment in this field, he added.
Additionally, El Homsani stated that the national strategy is prepared by many international partners, including the European Bank for Reconstruction and Development (EBRD), and its outputs were presented during the COP 27 summit. He explained that its plan involved increasing hydrogen production and its derivatives, in addition to the expansion of its use to reach every sector, especially industry and transportation. It can then also be exported to international markets.
The spokesman also pointed out that the National Council for Green Hydrogen and its Derivatives will monitor and follow up on the implementation of the National Low-Carbon Hydrogen Strategy annually.
The strategy is expected to have significant economic benefits, which include increasing Egypt’s gross domestic product (GDP) to about $18 billion by 2040 and creating more than 100,000 new jobs in the same year. It will also support Egypt’s energy security by diversifying its sources, in addition to contributing to reducing carbon dioxide emissions and supporting the transition to a green economy.
El Homsani added that the green hydrogen investment website was developed under the auspices of the Egyptian Cabinet, to stimulate investment in many priority sectors through partnerships with private sector investors. He elaborated that the website includes the most important competitive advantages that enhance investment in the field of green hydrogen, such as the strategic location and investment incentives, in addition to the partners for success in this promising investment.
It also includes information on plans to produce green hydrogen in Egypt the framework agreements that Egypt has concluded in this regard, and the procedures for developing green projects, he added. In addition, it displays the national strategy for low-carbon hydrogen, which aims to achieve an ambitious plan and reach 5-8% of the global commercial hydrogen market, the spokesman explained.
