Foreign Investors Can Now Finance Renewable Energy Projects in Egypt
The Ministry of Electricity and Renewable Energy is now offering green hydrogen projects in Aswan, Sohag and the Nile bank.
The Ministry of Electricity and Renewable Energy is now offering lands, which have been allocated by presidential decree to establish solar and wind power stations and use them for the production of green hydrogen for export, to foreign investors.
Once the lands are distributed amongst investors, technical and environmental studies will begin in June, which is when Egypt is set to become one of the first countries to produce green gas for giant ships in the Suez Canal.
Covering an area of 26,000 square kilometers in western Aswan, western Sohag and western Nile bank, the lands will host solar and wind power stations with a capacity of up to 130,000 megawatts in cooperation with the private sector.
The ministry aims to increase the share of renewable energy in the national electricity grid to 50% by 2040.
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