Minister of Electricity and Renewable Energy Mohamed Shaker hinted that Egypt’s green hydrogen projects could cost about $3-4 billion in the early stages, Hapi Journal cited. 

Shaker remarks came on the sidelines of the first forum of the heads of African Investment Promotion Agencies (IPAs) in Sharm El Sheikh. Shaker said the ministry intends to present the feasibility studies of the projects to the Sovereign Fund of Egypt (SFE) and several other parties.

He also pointed out that the ministry targets the production of 42% of energy from renewable resources by 2035. This will open doors for partnerships with the private sector. 

It should be noted that the ministry signed a memorandum of understanding (MoU) with Simens, earlier in January, to work on a pilot project to produce green hydrogen as a first step towards expanding in this field to the possibility of exporting.