Egypt is making significant strides in the renewable energy sector with a focus on green hydrogen. The European Bank for Reconstruction and Development (EBRD) has been a pioneer investor in Egypt's renewables since the development of the Benban Solar plant in 2016. Under the NWFE initiative, EBRD aims to invest over a billion euros in private sector renewable energy producers. Recently, Egypt signed an agreement with a consortium for a green hydrogen project. Additionally, EBRD is collaborating with the European Union (EU) and the European Investment Bank (EIB) to explore game-changing investment opportunities in green hydrogen production in Egypt. In a related development, Egypt and the EU held an investment conference to address Cairo's inflation and foreign currency crisis. The EU's funding plan is expected to help Cairo implement substantial economic reforms and attract billions in investments from European companies. Furthermore, Egypt has allocated nearly $1.2 billion for extra energy imports to eliminate scheduled power cuts before the end of July, addressing an issue affecting millions as temperatures soar.
Egypt has allocated nearly $1.2 billion for extra energy imports as it seeks to eliminate scheduled power cuts before the end of July and tackle an issue that’s causing misery for millions as temperatures soar https://t.co/QY1LCGkuPl
The European Union's funding plan will help Cairo make substantial economic reforms and bring billions in investments by European companies. https://t.co/ndZPQnqRts
Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis https://t.co/KTtvbGEhmz
Exciting news! We're teaming up with @eu_near, @EUinEgypt, and the @EIB to explore game-changing investment opportunities for #GreenHydrogen production in #Egypt. Dive into the details here: https://t.co/aEUjskQgYR #SustainableEnergy #EBRDdonors https://t.co/HozBYZwqWl
#Egypt signs agreement with consortium for green hydrogen project https://t.co/VcVpi0ocBE
🇪🇬 Egypt has a great potential specifically in green. We’ve been a pioneer investor in renewables in Egypt since the development of the Benban Solar plant in 2016. Under #NWFE, we seek to invest over a billion euros in private sector renewable energy producers. https://t.co/cYk4qA4wB3