The Egyptian Prime Minister said that within the framework of implementing this plan, the National Council for Green Hydrogen and its Derivatives was established, and the Egyptian government launched the National Strategy for Low-Carbon Hydrogen.
This came during a meeting held by the Egyptian Prime Minister, on Monday, at the government headquarters in the New Administrative Capital, with a delegation that included 24 heads and representatives of Japanese companies working in the field of renewable energy and water management, business and development organizations, and Japanese financial institutions.
The Egyptian Prime Minister stressed that his government aims for renewable energy sources to account for 42% of its energy mix by 2030.
He pointed out that the “National Low-Carbon Hydrogen Strategy” relies on taking advantage of Egypt’s distinguished geographical location and abundant natural resources, especially solar and wind energy, to support the production of low-carbon hydrogen. It also aims to enhance cooperation with international partners and financial institutions to support research, development and investment in this field.
The Egyptian Prime Minister explained, according to an official statement by the Cabinet, that the strategy is expected to contribute to achieving economic returns represented by increasing Egypt’s gross domestic product to about $18 billion by 2040, creating more than 100,000 job opportunities, and supporting the green transformation.
Law No. 2 of 2024 was recently issued regarding incentives for green hydrogen production projects and its derivatives, under which incentives are provided to companies investing in this sector, such as tax exemptions, land allocation, and the golden license.
Source: RT
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2024-09-24 10:06:10
