As Egypt commits to a hydrogen future, Hydrogen Industry Leaders explores the $41.5bn announcements and what it entails.
Until 2030, Egypt is expected to invest over $41.5bn into their hydrogen projects to build an industry leading hydrogen economy. Moving past 2030, there are further investments expected.
The state’s share is scheduled to range from 20 to 25 per cent of the volume of investment in the first phase and is funded by the Egypt Sovereign Fund, the Egyptian Electricity Transmission Company, and future funding may come from the Suez Canal Economic Zone.
The investments for the first phase of the projects that Scatec aims to implement are about $5.2bn, and the state’s percentage of these investments range between $260m and $330m, with the company seeking to bring its investments to implement hydrogen projects to $15.6bn.
Separately, Maersk also intends to implement phase one of hydrogen projects in Egypt until 2030, with investments amounting to $4.7bn.