Egypt could produce 20M tons of green hydrogen by 2035: EIB

PHOTO

Egypt is expected to produce 20 million tons annually of green hydrogen by 2035, a study by the European Investment Bank (EIB), the African Union, and the International Solar Alliance showed, according to Bloomberg.

The study expected that the African continent would have the capacity to produce € 1 trillion worth of green hydrogen annually by 2035.

The produced green hydrogen would enable Africa to export fuel and boost local industries, the study said.

As per the study, the use of solar energy by a group of African countries would produce green hydrogen fuel at less than €2 per kilogram by 2030.

The study noted that the green fuel was set to be produced in Egypt, Morocco, Mauritania, Namibia, and South Africa.

Furthermore, the study showed that Egypt would be the biggest producer of green hydrogen in the continent, with a capacity of 20 million tons annually, followed by South Africa and Namibia with 17.5 million tons, and Morocco and Mauritania which – combined - could produce 12.5 million tons.

On December 14th, Chairman of the General Authority for Suez Canal Economic Zone, Waleid Gamaleldien, announced that the SCZone had signed 23 new memoranda of understanding so far to localize the green fuel industry, of which nine MoUs were turned into framework agreements to commence the establishment of the projects as per the targeted schedules.