Egypt struggles to mobilise green hydrogen investment
Developers outline provisional plans to invest in multiple projects, but progress to FID remains elusive
Egypt celebrated the signing of a clutch of memorandums of understanding (MOUs) in late February with international and local investors to establish green hydrogen production plants along the banks of the Nile. The MOUs represent a total potential investment of $41b. Separately, the government let it be known that a European steelmaking giant is honing a proposal to develop a $4bn green steel complex in the North African state. However, with some 30 similarly provisional agreements now signed since the government launched its drive into the sector around the turn of the decade, the failure of any significant schemes to progress to FID is striking, as project developers struggle with demand a
Also in this section
24 April 2024
Demand for energy purposes to outpace feedstock applications by the 2040s as government policies drive consumption, says DNV
24 April 2024
Danish firm joins growing list of European electrolyser manufacturers establishing production in US as IRA incentives prove strong draw
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter