Prime Minister Moustafa Madbouli witnessed on Wednesday the inking of seven memorandums of understanding (MoUs) to start studies on projects of green hydrogen and its derivatives.

The memos were inked by the Electricity Ministry - represented in the New and Renewable Energy Authority (NREA) - with the Sovereign Fund of Egypt, the General Authority for Suez Canal Economic Zone and local and international companies.

The inking ceremony was attended by Ministers of Electricity Mohamed Shaker, Planning Hala Saeed and Public Enterprise Sector Mahmoud Esmat.

The memorandums were signed by NREA CEO Mohamed Khayyat, Chairman of the General Authority for Suez Canal Economic Zone Walid Gamal Eddin, CEO of the Sovereign Fund of Egypt Ayman Sulieman, Deputy Chairman of the Egyptian Electricity Transmission Co. (EETC) as well as representatives of local and international companies.

Premier Madbouli highlighted the state efforts to lure more local and foreign direct investments to implement green hydrogen projects.

He noted that Egypt seeks to be a regional center for producing green hydrogen in the region.

Electricity Minister Mohamed Shaker said the ministry received new offers from local and international companies and alliances to implement green hydrogen projects.

Among signatories are the Saudi company Benchmark, international-local alliance of Acwa Power and the British alliance of OCIOR ENERGY.

MENA