Egypt Makes $7.7 Billion Green Hydrogen Deal With France During President Macron's Visit
Egypt Makes $7.7 Billion Green Hydrogen Deal With France During President Macron’s Visit
Egypt and France have agreed to work together on a big green hydrogen project worth $7.68 billion (€7 billion). The project will be built on the Red Sea coast. Egypt’s Ministry of Transportation shared the news during French President Emmanuel Macron’s visit to Cairo on Monday.
Green Hydrogen Project
A new green hydrogen project will be built in Ras Shukeir, Egypt. The goal is to produce one million tons of green ammonia every year by 2039. The first phase will start in 2029 and aims to produce 300,000 tons per year.
This project is part of Egypt’s larger plan to become a regional center for clean energy production and exports.
The agreement was signed by the General Authority for Red Sea Ports and the New and Renewable Energy Authority, along with the Green Fuel Alliance. This group includes EDF Renewables from France and the Zero Waste Group from Egypt and the UAE.
Kamel El-Wazir, Egypt’s Vice Prime Minister and Minister of Industry and Transport, said the deal shows Egypt’s strong focus on green hydrogen and attracting investment. He added that the country wants to be a global leader in renewable energy.
The first phase will need $2.2 billion in investment. All three phases of the project will be fully funded by the project company.
The project will use 368 square kilometers of land for solar and wind power, and 1.2 million square meters for building the hydrogen and ammonia plant. A 7-kilometer power line will connect the plant to the energy sources.
The plan also includes a desalination plant to provide water for hydrogen production, and a 400-meter-long, 17-meter-deep export dock at the Red Sea port. This will be built with help from the Red Sea Ports Authority.
Egyptian-French Business Forum
The project was announced during the Egyptian-French Business Forum, where experts and officials from both countries discussed clean energy investments in Egypt.
At a panel called “Green Hydrogen and Renewable Energy in Egypt,” Walid Gamal El-Din, head of the Suez Canal Economic Zone, said the government wants to make the area a key exporter of green fuels to Europe—by sea or pipelines.
Sebastian Riez, CEO of Schneider Electric for Northeast Africa, said it’s important to use new digital technologies like artificial intelligence (AI) and digital twins to improve how hydrogen plants are designed and run.
Mohamed Ibrahim from Engie’s Egypt team said the country is on track to produce 20% of its electricity from renewable sources by 2030. He noted that wind power projects have already reached 2.2 gigawatts in total capacity.
Published: 9th April 2025
For more article like this please follow our social media Twitter, Linkedin & Instagram
Also Read:
UAE Economy Grows 3.9% in 2024 on Oil, Non-Oil Strength
Sohar Bank Eyes Merger with Ahli, May Form $29B Giant
UAE bond, sukuk sales up 8.3% to $309.4B in Q1 2025
