Government to Reveal Incentives for Accelerating Green Hydrogen Project Implementation

Government to Reveal Incentives for Accelerating Green Hydrogen Project Implementation

Prime Minister Mostafa Madbouly has directed that a meeting be held as soon as possible with the various companies that have signed agreements to implement green hydrogen projects. The aim of the meeting is to announce a set of unprecedented incentives that will be awarded to those who expedite the contracting and implementation of the projects for which agreements have been signed.

This came while chairing a meeting for the National Green Hydrogen Council in attendance of several of ministers and officials.

During the meeting, Randa Al-Minshawi First Assistant to the Prime Minister reviewed the operational results of the Technical Secretariat of the National Green Hydrogen Council during the past period. In addition, she discussed the latest developments of the green hydrogen program, especially the signature of 27 agreements with developers in the field of green energy in addition to signing another ten binding framework agreements.

The meeting also reviewed the situation of allocating number of plots of land proposed for the implementation of green hydrogen production projects. These projects include establishing a giant station for producing green hydrogen and its derivatives in the Al-Tor region, and the other is to establish a unit for separating and purifying kaolinite sand within the Zaafarana/Ras Ghareb main road.

Mohamed El-Homsani, the official spokesman for the Cabinet, announced the approval of several significant initiatives during the recent meeting. Among them was the establishment of the International Center for Green Hydrogen in Egypt, slated to be housed at Nile University. Additionally, the approval was granted for the “PTX” initiative, aimed at bolstering the green hydrogen industry, with a substantial EUR 270 million allocation. Furthermore, the Cabinet endorsed the organization of a workshop for the regional initiative titled “Support to Green Electrons and Molecules’ (GEM) development in the Southern Neighborhood,” funded by the European Union.

El-Homsani highlighted that the meeting also entailed a thorough review of the executive status of essential studies concerning various lands earmarked for the implementation of new and renewable energy projects.

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