Egypt's New and Renewable Energy Authority has allocated land in the East Nile region to companies that will implement projects to produce hydrogen and green ammonia in Egypt."
Hydrogen is seen as the key to the global energy transition because it emits water vapor only when combustion, making it cleaner than fossil fuels such as oil and coal.
The total area of land east of the Nile is about 1625 kilometers, and companies will be given parts of it to implement renewable energy plants on it after activating the memorandums of understanding signed with the government at the Sharm el-Sheikh climate summit to be held next November, according to the official, who spoke on condition of anonymity.
The Egyptian government's share ranges from 20 to 25 percent of the investment volume in the first phase of hydrogen and green ammonia projects, and the government entities contributing to Egypt's sovereign fund, the Egyptian Electricity Transmission Company, and the Suez Canal Economic Zone are the shareholders.
Egypt is preparing an ambitious plan to use hydrogen as a low-hydrocarbon fuel source, according to previous statements by Egyptian Petroleum Minister Tarek El Molla, who said at the time that his country aims to generate 42 percent of its electricity by 2030 from renewable and new energy.
