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The Suez Canal Economic Zone (SCZONE) participated, in the 3rd roundtable for green hydrogen projects in coordination with the European Bank for Reconstruction and Development (EBRD) and the Ministry of Electricity represented by the Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA) and the Sovereign Fund of Egypt (TSFE). In the presence of some representatives of global companies that signed MoUs related to the production of green fuel, in order to follow up on general policies and frameworks for the establishment of green fuel projects in SCZONE and to discuss the technical and the legal studies in this regard.
The Roundtable meeting was held in Cairo in the presence of Waleid Gamal El-Dein, Chairman of SCZONE, in addition to the presence of representatives of the concerned Egyptian entities; Eng. Sabah Mashali, EETC’s Chairman, Dr Mohamed El-Khayat, Chairman of NREA, and Abdullah El-Ebyari, Head of the Investment Sector at TSFE, as well as the participation of Dr Heike Harmgart, EBRD managing director, southern and eastern Mediterranean region.
During the round table, the attendees reviewed the latest developments related to SCZONE’s preparations with companies and stakeholders to activate the Memorandum of Understanding and turn them into actual contracts, in coinciding with the COP27. They discussed future plans for power generation, transmission, and distribution stations, as well as the electrical interconnection network near the planned areas.
They also discussed the strategic plan of Egypt in the field of new and renewable energy, the future uses of wind and solar energy, what SCZONE will offer to investors in this sector, and the provision of energy used in these huge industries.
For his part, Waleid Gamal El-Dein demonstrated the infrastructure and facilities in SCZONE and its preparations to localize the green fuel industry.
“As SCZONE leads the transformation towards green energy, we target to establish several facilities for the green fuel production for local uses, export purposes, and ship bunkering, especially since the integration between industrial zones and affiliated seaports gave SCZONE a competitive advantage, as well as its infrastructure readiness.” Waleid Gamal El-Dein declared.
“I really appreciate all the exerted efforts from the involved parties in this concern, especially with regard to infrastructure. I aspire that Egypt will be the main leading hub for green fuel industries,” Dr Heike Harmgart said.
It is worth mentioning that SCZONE has so far signed 9 Memoranda of Understanding with several global partners for the production of green fuel. It is expected that SCZONE will sign more MoUs within the next few days, to reach the largest possible number of final contracts by the COP27 summit that will be held in Sharm El Sheikh, next November.