Egypt’s Cabinet has approved the establishment of the National Council for Green Hydrogen, a move aimed at encouraging sustainable development and economic growth.
Led by Prime Minister Mostafa Madbouly, the council will include ministers responsible for electricity and renewable energy, petroleum, finance, and environment, and the Executive Director of Egypt’s Sovereign Fund.
Its mandate includes ensuring Egypt’s competitiveness in the global green hydrogen market, overseeing the National Strategy for Green Hydrogen, addressing challenges in eco-friendly investments, and reviewing relevant legal and regulatory matters.
Egypt has signed agreements to manufacture green hydrogen and derivatives in the Suez Canal Economic Zone, with the goal of becoming a leading global hub for green hydrogen production.
This aligns with Egypt’s National Climate Strategy 2050, aiming to reduce carbon emissions, promote renewable energy sources, and capture 8% of the global hydrogen market by 2050, producing green hydrogen at a cost of $1.7 per kg, the lowest globally.
