Egypt signs 7 MoUs in green hydrogen and renewable energy with giant global developers

Ahram Online , Wednesday 28 Feb 2024

Egypt signed seven Memoranda of Understanding (MOUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced.

ِِA part of the signing ceremony of Memoranda of Understanding (MOUs) in the presence of Minister of Planning Hala El-Said, Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mohamed Shaker and Tarek El Molla, Minister of Petroleum and Mineral Resources on Wednesday 28 February, 2024. Photo courtesy of Egyptian Cabinet.


Prime Minister Mostafa Madbouly attended the signing ceremony held at the cabinet headquarters at the New Administrative Capital City along with Minister of Electricity and Renewable Energy Mohamed Shaker and Minister of Planning Hala El-Said.

El-Said explained that the signing of the MoUs represents a new step in a series of investment partnerships with major global companies to establish projects in the field of green hydrogen in the Suez Canal Economic Zone.

The Minister of Planning added that the Sovereign Fund of Egypt (TSFE) also strives to promote Egypt as a regional hub for green energy.

She further highlighted that the fund had succeeded months ago in launching Africa's first integrated plant for producing green ammonia in emerging markets in partnership with several global companies.

During the signing, the seven governmental entities were represented by Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, Mohamed El-Khayat, Chairman of the New and Renewable Energy Authority, Ayman Soliman, CEO of The Sovereign Fund of Egypt (TSFE), and Khaled Abdel Karim Hassan, the full-time member responsible for studies, designs, and overseeing the sectors of central projects at the Egyptian Electricity Transmission Company.

As for the global developers, the agreements were signed by Kofi Owusu-Bempah, CEO and Managing Partner of UK-based Pash Global; Joao Cunha, Chief Operating Officer & Deputy CEO of Switzerland-based Smartenergy; Ihab Demian, Managing Director of Cairo-based Gama Construction representing the company’s consortium with France-based Meridiam; SK Eco Plant and CSCEC North Africa consortium represented by Bae Seong-Jun, vice president and head of energy business of South Korea’s SK Ecoplant; Wang Zhi, General Manager, CSCEC Egypt, a unit of China State Construction Engineering Corp; Mohamed H. Tawakol, Board Member of Egypt-based Gila Al Tawakol Electric; Yahya Abu Al-Hassan, Business Development Director, Canada-based AmmPower; and Kamel El-Sawi, the Egypt President of Hong Kong-based United Energy Group (UEG)

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