Egypt is looking to establish the first global hub for green hydrogen in canal city of Ain Sokhna, said head of the General Authority for Suez Canal Economic Zone (SCZone) on Tuesday.
The SCZone is open to receive more investments in the field of green hydrogen as part of Egypt’s plans to attract more foreign investments in green fuel and hydrogen and launch new renewable energy, Yehia Zaki added.
Zaki made these remarks during the European Bank for Reconstruction and Development’s (EBRD) 31st annual meeting and business forum, which kicked off in Marrakesh, Morocco.
He also highlighted the incentives the Egyptian government is offering to investors in various industrial sectors, especially in green hydrogen, which has become a special focus for SCZone after signing several memoranda of understanding with international partners.
Green hydrogen is a zero-carbon fuel made by electrolysis by the usage of renewable power from wind and solar to split water into hydrogen and oxygen without burning fossils.
The North African country has been studying using green hydrogen as a cleaner energy source to integrate into its energy mix by 2035.
