Announcements October 25, 2022 at 7:41 pm

Egypt Is Going To Produce The World’s Cheapest Green Hydrogen

Byfarahibrahim

According to the Minister of Electricity and Renewable Energy Mohamed Shaker, Egypt has the ability to create green hydrogen at the lowest cost in the world.

Egypt’s prices are projected to drop from USD 2.68 (EUR 2.72) per kilogramme in 2025 to USD 1.7/kg by 2050

Shaker stated that the cheap production costs and competitive advantages will assist the North African nation to fulfil its ambitious aim and produce eight percent of the worldwide hydrogen demand during his speech at the Egyptian Economic Conference 2022 in the New Administrative Capital in Cairo.

The minister stated that a national hydrogen strategy is being developed by the government. The European Bank of Reconstruction and Development (EBRD) and the Ministries of Electricity and Renewable Energy and Petroleum and Mineral Resources have signed a Memorandum of Understanding (MoU) in order to receive funding for the advisory work on the creation of the strategy that will be unveiled at the COP 27 summit in Sharm El-Sheikh in November.

In his remarks, Shaker focused on the advantages of the growth of the hydrogen industry, which is anticipated to increase Egypt’s gross domestic product (GDP) by between USD 10 billion and USD 18 billion in 2025 and generate about 100,000 jobs while reducing the country’s dependence on petroleum imports.

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