The Sovereign Fund of Egypt (TSFE) has positioned itself as reliable partner to reassure investors looking to participate in green economy projects in the country, a top Fund official said.

Karim Badr, CEO of TSFE’s Infrastructure & Utilities Sub-Fund said renewable energy, water desalination, green hydrogen, and storage and warehousing projects would be the focus areas for the Fund.

Speaking at the Portfolio Egypt 2022 conference, Badr said TSFE is planning to partner and build 3 million cubic metres per day of desalination capacity within the government’s plans to diversify fresh water sources through renewable energy-powered desalination plants.

He added that the Fund has set a target of establishing 1.5 million tonnes of green hydrogen production capacity by 2030 to put Egypt on the map of energy-exporting countries.

Badr said TSFE will provide low-cost financing mechanisms to attract investors.

(Reporting by Eman Hamed; Editing by Anoop Menon)