24 Japanese companies visit Egypt’s SCZone exploring green fuel investments

Ahram Online , Sunday 1 Oct 2023

A delegation of 24 Japanese companies has visited the Suez Canal Economic Zone (SCZone) to explore renewable energy investment opportunities with a special focus on green fuel, according to a statement by the zone on Sunday.

Chairman of SCZone Waleed Gamal El Din with Japanese delegating.
Chairman of SCZone Waleed Gamal El Din with Japanese delegating. SCZone.


The Japanese delegation included representatives from the Japanese External Trade Organization (JETRO), the Egyptian-Japanese Business Council (EJBC), the New Energy and Industrial Technology Development Organization (NEDO), and the Japan International Cooperation Agency (JICA).

Chairman of the General Authority of the SCZone Walid Gamal El-Din welcomed the delegation and the attendees from the green fuel companies, expressing his aspiration for cooperation with them in the green fuel sector and complementary industries that feed it.

Gamal El-Din gave a presentation on SCZone’s efforts in the green fuel file.

Kazuya Nakajo, the head of the Japanese delegation and executive vice president of JETRO, stated that Egypt possesses all the elements to promote the green transition with its renewable energy sources of solar and wind energy.

He added that Egypt has the infrastructure that qualifies it to be a hub for renewable energy in North Africa.

Earlier in September, Minister of Electricity and Renewable Energy Mohamed Shaker announced that Egypt plans to launch a national strategy to become a leading green hydrogen producer and exporter.

Over the past year, the country signed many MoUs with various international entities to attract foreign investment in green hydrogen and to become a hub for hydrogen production.

In June, the Egyptian government updated Nationally Determined Contributions (NDC), which include setting more ambitious goals for reducing greenhouse gas (GHG) emissions and securing the finances needed.

The country’s NDC plan includes reducing GHG emissions from electricity generation, transmission, and distribution by 37 percent by 2030.

Moreover, Egypt’s National Climate Change Strategy 2050, announced in May 2022, outlines the country's objectives to reduce carbon emissions, endorse the use of renewable energy sources, and explore alternative energy forms like green hydrogen.

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