Egypt’s House of Representatives approved on Tuesday a drafted law presented by the government offering a string of incentives to promote the production of green hydrogen projects.
Egyptian Parliament – Al Ahram
The bill aims to create an attractive investment environment to retain the current investors — who have already signed agreements to establish green hydrogen projects — and also lure more direct and indirect foreign investments.
Egypt plans to become an international hub for green hydrogen projects and its derivatives.
In August, Egypt established the National Council for Green Hydrogen to stimulate green investment. In November, the council launched the National Strategy for Green Hydrogen.
Under the strategy, Egypt aims to increase the energy generated from renewable sources to 42 percent by 2035. It also targets up to 8 percent of the global trade in the green hydrogen market by 2040.
SOURCE: Ahram Online
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