EUR 30M Grant Signed With Germany for Green Hydrogen Project in Egypt
The grant’s signing in Hamburg was witnessed by the Egyptian Minister of Petroleum & Mineral Resources.
At the Hamburg Sustainability Conference in Germany, Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of a EUR 30 million grant agreement with the German government to support a green hydrogen production project in Egypt.
This initiative will be developed by Norwegian company Scatec ASA in collaboration with Fertiglobe, Orascom Construction, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company (EETC) and Power 2XD&G GMBH, a subsidiary of the German Bank for Development.
During the ceremony, which was attended by Minister of Planning, Economic Development, and International Cooperation Rania A. Al-Mashat and German Federal Minister for Economic Cooperation and Development Svenja Schulze, Minister Badawi noted that this agreement would enhance collaboration between Egypt and its international partners in advancing projects related to green hydrogen and ammonia production within the country.
Additionally, he reaffirmed the Egyptian government's commitment to fostering coordination and collaboration across various sectors to realize Egypt's vision of becoming a regional hub for green hydrogen production.
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