On the fringes of COP27, Egypt’s President Abdel Fattah Al-Sisi announced the opening of the first phase of the country’s first green hydrogen plant in the Suez Canal Economic Zone (SCZone), with the involvement of Norway’s Prime Minister Jonas Gahr Stre.
The president stated during the ceremony that the green revolution offers a bright chance to achieve progress in all areas. He went on to say that Egypt will serve as a link for energy between Africa and Europe and that it is eager to remove any barriers to investment, particularly in areas of green transformation.
Al-Sisi further added that the giant project to produce green hydrogen is located in the economic zone of the Suez Canal, which is one of the most important geographical locations in the world and enables us to export green hydrogen easily to Europe and various other continents.
The president stated that Egypt has taken many measures to enhance the benefits of the huge potential of renewable energies by encouraging the private sector to invest in the field of establishing, owning, and operating plants for the production and sale of electricity produced from solar and wind energy.
The project is owned, built, and operated by Fertiglobe, Scatec ASA, Orascom Construction, and the Sovereign Fund of Egypt.
The launch of the hydrogen facility comes as world leaders gather for the United Nations Conference of the Parties on Climate Change (COP27) in Sharm El-Sheikh, Egypt, where they seek to accelerate global climate action through emissions reduction. Unless we make sharp reductions in greenhouse gas emissions in the coming decades, global warming will exceed the Paris Agreement’s goal of limiting temperature rises to 1.5 degrees Celsius.
Future generations will need inexpensive, accessible, and sustainable energy security, hence there is a need for a rapid transition to renewable energy and fuels with reduced carbon intensity. Green hydrogen has the potential to significantly contribute to the decarbonization of challenging industries as heavy industries, power, and international shipping. Green hydrogen is created from water using renewable energy sources.
