The Middle East and North Africa (MENA) region has announced to date 47 blue and green hydrogen projects involving investments worth $55 billion, a top official of the Clean Energy Business Council (CEBC) said.

The Abu Dhabi Global Market-registered CEBC represents private sector companies operating in the region’s clean energy sector.

CEBC’s Managing Director Ahmed Samir Elbermbali said 75 percent of the announced projects are for green hydrogen.

“More than 15 projects are from the UAE, 9 from Egypt, 6 from Morocco, and 7 from Oman,” he said at a virtual event hosted by International Renewable Agency (IRENA) on Tuesday.

Emphasising the need for an OPEC-equivalent organisation for the clean and renewable energy industry, he argued that such a body would allow for greater harmonisation of policies between the different members, allow for stabilisation of the hydrogen market, ensure an efficient supply of hydrogen to the consumer, help the hydrogen market mature by providing standardisation and enable collaboration to secure the long-term health of the hydrogen market.

(Reporting by Sowmya Sundar; Editing by Anoop Menon)