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Sisi: Egypt to be able to export green hydrogen, clean energy to Europe
President Abdel Fattah El Sisi said Egypt will be able to export green hydrogen and clean energy to Europe.
“The mega project to produce green hydrogen in the Economic Zone of the Suez Canal, which is considered one of the most important geographical locations worldwide, will enable us to export green hydrogen easily to Europe and the various continents,” he said in a speech delivered at the Inauguration of Phase 1 of Green Hydrogen Production Project.
He said Egypt has taken numerous measures to enhance the utilization of the enormous potential of renewable energies it possesses. This is done by encouraging the private sector to invest in the construction, ownership and operation of electricity generation plants and in the selling of electricity, generated from solar and wind energy. The Egyptian State is also keen on overcoming any obstacles impeding these investments and on drafting a roadmap to increase the size and scope of these investments in the years ahead.
“The private sector has now great confidence in Egypt’s investment climate and I would like to tell you: Many projects are being implemented in the field of electricity production from wind and solar energy, which demonstrates the ability of renewable energy to attract foreign direct investment. It also underscores the role of the national institutions in creating an investment climate with low risks and positive interaction with financial institutions and development partners,” he said.
There is no doubt that electricity interconnections and energy trade play a significant role in enhancing energy security. Therefore, Egypt actively participates in all regional electricity interconnection projects and electricity markets. The electricity interconnection line project between Egypt and Greece is under construction, as Egypt will act as an energy bridge between Africa and Europe, he added.
The electricity interconnections between Africa and Europe will accommodate the huge electrical energies that will be produced from renewable energy sources in Africa. Egypt is keen on supporting the African countries’ efforts to access clean energy from renewable sources, particularly as many African countries have numerous unutilized sources of renewable energy. Egypt is expected to be one of the main hubs for transferring clean electric energy to Europe, he said.
In view of the accelerated global interest in renewable energies and in improving electricity generation technologies from renewable sources of energy, that coincided with the growing global interest in climate change and rising fossil fuel prices, and as part of efforts to benefit from Egypt’s natural wealth, particularly renewable energy sources, Egypt, in 2016, adopted the Integrated and Sustainable Energy Strategy until 2035. The strategy stipulates increasing the supply of electricity generated from renewable energy to 42% by 2035. The Integrated and Sustainable Energy Strategy in Egypt has been aligned with the Sustainable Development Strategy “Egypt Vision 2030”, the “National Climate Change Strategy 2050” and “The 17 United Nations Goals for Sustainable Development”.
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