RIYADH: Egyptian government entities, including the state’s sovereign fund, have signed initial agreements with seven global companies to implement green hydrogen projects in the industrial zone of Ain Sokhna.
This comes as part of the government’s plan to use hydrogen as a low-hydrocarbon fuel source, Asharq reported.
The signing of the memoranda of understanding aims to establish facilities for the production of green fuel for export purposes and ship catering services, head of the General Authority For Suez Canal Economic Zone said.
Walid Gamal El-Din added that green hydrogen production projects will be established in the industrial zone in Ain Sokhna to take advantage of its proximity to the port and the ongoing development work there.
Egypt’s renewable energy program is targeting to generate 42 percent of electricity by 2030 from renewable energy sources, the Minister of Petroleum and Mineral Resources Tarek El Molla previously confirmed.
