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
17 May 2024
Company’s Positive Motion strategy to be at forefront of the EU’s green hydrogen, e-fuel derivatives and biofuels drive to decarbonise and solve energy trilemma
15 May 2024
Huge turnout for Rotterdam trade show masks worrying lack of progress for nascent industry confronting the harsh realities of transition
8 May 2024
Commission modelling of emission reduction pathway implies undershoot of current hydrogen production and imports targets, according to speakers at a recent Hydrogen Europe event
8 May 2024
Hydrogen cars may not have much credibility, but the same could have been said about EVs not too long ago