Egypt aims for 8% share of global green hydrogen market by 2040
Egypt aspires to capture 8% of the global green hydrogen market by 2040, bolstered by large-scale projects and collaboration with Japan. The Japan Bank for International Cooperation (JBIC) is expected to finance renewable energy ventures, reinforcing Egypt’s goal to become a leading exporter of green hydrogen and renewable energy to Europe.
Egypt is aiming to become a leading producer of green hydrogen, targeting 8 percent of the global market share by 2040, according to the head of the country’s top investment body. This ambition is supported by several large-scale projects awarded in recent months, with more expected in the coming years, reported Zawya.
As per the media report, Husam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), noted that Japan is anticipated to play a significant role in financing these projects. Haiba made these remarks on Tuesday following a meeting with a delegation from the Japan Bank for International Cooperation (JBIC), where they discussed new financing options for green hydrogen and other sectors in Egypt, as reported by Al-Ahram.
“Collaboration with JBIC will significantly boost Japanese investments in Egypt’s renewable energy projects,” Haiba said.
He added, “Our government has set a goal of securing 8 percent of the global green hydrogen market by 2040, and we aim to position Egypt as a major exporter of renewable energy to Europe.”
Source Link : Bio Energy Times
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