Egypt Signed Renewable Energy Agreements Worth 40 Billion USD

2024-02-28 09:08:04

(MENAFN- Nam News Network) CAIRO, Feb 29 (NNN-MENA) – Egypt signed yesterday, seven cooperation agreements with international developers, in the fields of green hydrogen and renewable energy in the Suez Canal Economic Zone.

The total investments for these projects are expected to exceed 40 billion U.S. dollars, over a span of 10 years, the Egyptian cabinet said in a statement.

Egyptian Minister of Planning and Economic Development, Hala Al-Saeed, said that, the pilot phase of the agreements involves investments of approximately 12 billion dollars, followed by an additional 29 billion dollars for the first phase.

The Egyptian government has been working to transform the country into a regional centre for the production and export of green energy.– NNN-MENA

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