The Prime Minister explained that the establishment of the National Green Hydrogen Council comes within the framework of Egypt’s efforts to localize this industry.
Prime Minister, Mostafa Madbouly directs the formation of an executive committee to receive applications and obtain the required approvals for green hydrogen projects. Madbouly also ordered additional exceptional incentive packages for the first companies that will sign the final contracts, provided that these projects obtain the necessary financing, as well as their readiness to immediately begin implementation.
This came during the first meeting of the National Green Hydrogen Council to present the executive position of green hydrogen projects.
The Prime Minister explained that the establishment of the National Green Hydrogen Council comes within the framework of Egypt’s efforts to localize this industry. It also comes in line with the Egyptian President Abdel Fattah El-Sisi’s directives to establish an institutional entity responsible for coordinating and managing everything related to this vital file.
Madbouly stressed that through this council, a rapid mechanism will be created to approve green hydrogen projects, adding that it is scheduled, soon, to launch the national strategy for green hydrogen.
Earlier in August 2023, The Egyptian Cabinet had approved the creation of the National Council for Green Hydrogen to encourage green investment, as part of the Egypt’s plan to promote sustainable social and economic development.
In previous statements, the Prime Minister had stated that Egypt signed more than 20 memorandums of understanding (MoUs) with major companies developing green hydrogen. The agreements, worth about $83 billion, aim to produce annually 15 million tons of green ammonia and green methane.
