Egypt has signed seven memoranda of understanding with international developers in the green hydrogen and renewable energy sectors, paving the way for potential investments totaling approximately $40 billion over the next decade.
Investment of about $12 billion is expected for a pilot phase, followed by a further $29 billion for the first phase, Planning Minister Hala al-Said said according to the statement.
Egypt has signed a series of memoranda of understanding and framework agreements for the development of green hydrogen over the past two years.
As it endeavours to establish itself as a hub for green hydrogen and renewable energy, the North African nation actively competes with other countries in North Africa and the Middle East.
