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Egypt, Norway unveil 100mw green hydrogen plant on Red Sea

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  Egypt and Norway have launched the first phase of a project to establish a major green hydrogen plant in Egypt s Ain Sokhna on the Red Sea with a capacity to produce 100MW President Abdel Fattah El Sisi of Egypt and Norwegian Prime Minister Jonas Gahr St re at the launch of the project on Tuesday said the launch was part of the UN Climate Conference of the Parties COP27 in 2022 which is celebrated in Sharm El Sheikh Egypt This event formed part of the final day of the Climate Implementation Summit with more than 100 heads of state and government meeting in the first days of the conference to work on the implementation of existing climate agreements El Sisi praised the project which will be implemented in cooperation with Norwegian energy giant Scatec The Egyptian president said it provides a practical investment partnership model that stimulates sustainable economic development with a focus on the role of the domestic and foreign private sector in addition to the role of government working alongside this fruitful sector Scatec has been a major developer in Egypt s huge Benban Solar Park in Aswan Upper Egypt one of the world s largest solar parks with a total capacity of 1 8 GW The Green Hydrogen Plant is part of Egypt s broader green hydrogen strategy which has a vision to produce green hydrogen at the cheapest price in the world The strategy is implemented in cooperation with the European Bank for Reconstruction and Development and the Arab Union for Sustainable Development and the Environment It seeks to help Egypt contribute eight percent of the global hydrogen market Egypt s cabinet said in a statement on Saturday El Sisi said Green hydrogen has become one of the most important solutions on the way to a green economy for the next few years It is an example where developing countries including Egypt are making great strides However we still have to face challenges derived from the tendency of some countries to bet on local green hydrogen in a way that lowers its production cost This causes an imbalance in the global hydrogen market and contributes to undermining the competitiveness of green hydrogen produced in developing countries compared to developed countries added the president edited Source Credit NAN
Egypt, Norway unveil 100mw green hydrogen plant on Red Sea

Ain Sokhna

Egypt and Norway have launched the first phase of a project to establish a major green hydrogen plant in Egypt’s Ain Sokhna on the Red Sea, with a capacity to produce 100MW.

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Abdel-Fattah El-Sisi

President Abdel-Fattah El-Sisi of Egypt and Norwegian Prime Minister Jonas Gahr Støre, at the launch of the project on Tuesday, said the launch was part of the UN Climate Conference of the Parties (COP27) in 2022 which is celebrated in Sharm El Sheikh, Egypt. .

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Climate Implementation Summit

This event formed part of the final day of the Climate Implementation Summit, with more than 100 heads of state and government meeting in the first days of the conference to work on the implementation of existing climate agreements.

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El-Sisi praised the project, which will be implemented in cooperation with Norwegian energy giant Scatec.

The Egyptian president said it provides “a practical investment partnership model that stimulates sustainable economic development with a focus on the role of the domestic and foreign private sector in addition to the role of government, working alongside this fruitful sector.”

Benban Solar Park in Aswan

Scatec has been a major developer in Egypt’s huge Benban Solar Park in Aswan, Upper Egypt, one of the world’s largest solar parks with a total capacity of 1.8 GW.

Green Hydrogen Plant

The Green Hydrogen Plant is part of Egypt’s broader green hydrogen strategy, which has a vision to produce green hydrogen at the cheapest price in the world.

European Bank for Reconstruction and Development

The strategy is implemented in cooperation with the European Bank for Reconstruction and Development and the Arab Union for Sustainable Development and the Environment.

It seeks to help Egypt contribute eight percent of the global hydrogen market, Egypt’s cabinet said in a statement on Saturday.

El-Sisi said: “Green hydrogen has become one of the most important solutions on the way to a green economy for the next few years.

“It is an example where developing countries, including Egypt, are making great strides.

“However, we still have to face challenges derived from the tendency of some countries to bet on local green hydrogen in a way that lowers its production cost.

“This causes an imbalance in the global hydrogen market and contributes to undermining the competitiveness of green hydrogen produced in developing countries compared to developed countries,” added the president.

edited

Source Credit

Source Credit: NAN

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