Green Energy to be Focus Area During Egyptian Pres Visit on R-Day

Picture Source: Trade Promotion Counicl of India

Egyptian President Abdel Fattah El-Sisi will be presiding over as the Chief Guest on India’s Republic Day. This is the first time that an Egyptian leader is invited as Chief Guest on the day. Ahead of the visit, green energy has surfaced as an important of cooperation between India and Egypt. Green hydrogen has specifically been at the heart of the bilateral ties between the two countries.

The government of Egypt entered into an agreement with Indian firm Ocior Energy towards the set up of a green hydrogen related project.  Notably, Egypt has been scaling up efforts in green hydrogen. In December it signed a series of pacts around the exploration of Green Hydrogen in the Suez Canal Economic Zone. The agreement with the Indian firm was part of this initiative.

In November last year,  the Egyptian government entered into another agreement with Indian firm ReNew Power along the sidelines of COP27. This was for the establishment of a green hydrogen plant in the SCEZ and saw investment worth $8 billion. The plant aims at yearly production of 220,000 tonnes of green hydrogen and its derivatives.

Earlier, Egypt signed a MoU with India’s Acme Group in August 2022 to build a green fuel plant at Sokhna with a planned investment of $13 billion to produce 2.2 billion tonnes of green hydrogen annually.

The Indo-Egypt cooperation also entails an agreement with Acme Group last August 2022 for the establishment of a green fuel plant at Sokhna. It boasts of planned investment of $13 billion towards the generation of 2.2 billion tonnes of green hydrogen every year.