Egypt will announce a new energy vision for green hydrogen at the upcoming climate conference COP27 in Sharm El Sheikh next November, according to Deutsche Welle’s (DW) recent report.
Egypt’s diversified approach could enhance its geopolitical position and see commercial success.
The report stated that Egypt owns many necessary components to become a renewable energy power force: a large internal market, plenty of sun and wind in Gulf of Suez, as well the government support.
Moreover, the experts expect at least a dozen memorandums of understanding already signed with international companies to proceed with framework agreements during COP27.
Norwegian renewable energy producer Scatec is ready to sign deals at the climate conference, company’s representative told DW. Noteworthy, the company is in early stage development of a green ammonia facility with a production capacity of 1 million tons annually.
India’s ReNew Power company is working with the Egyptian authorities to agree on a framework agreement with an eye to executing the agreement during the COP27, its CEO Sumant Sinha, said.
“Moving forward with the Egyptian sovereign wealth fund, prioritising the desalination to get the water for the green hydrogen and promoting special economic zones have been all important steps,” Heike Harmgart, managing director at the European Bank for Reconstruction and Development, told DW.
