Voltalia and TAQA Arabia Advance Renewable Energy and Green Hydrogen Cluster in Egypt

Voltalia and its partner TAQA Arabia signed a framework agreement at the Egypt-EU Investment Conference 2024, held on June 29-30 in Cairo.The conference was hosted under the auspices of Ursula von der Leyen, President of the European Commission, and Abdel Fattah El-Sisi, President of Egypt. Voltalia and TAQA Arabia are continuing their efforts to develop a cluster combining renewable energy and green hydrogen production.

Key Egyptian government officials and representatives from both companies attended the signing ceremony. This framework agreement follows a Memorandum of Understanding (MoU) signed in December 2022 to develop a cluster with 500-megawatt electrolyzers powered by over 1.3 gigawatts of solar and wind energy. Located near Ain Sokhna port in the Suez Canal Economic Zone, each phase of the project will have an annual production capacity of over 130,000 tons of hydrogen.

Sebastien Clerc, CEO of Voltalia said: “Egypt has promising opportunities to enhance its regional leadership in green hydrogen production and export within the country’s plans for green transformation. Voltalia is working hard to support these plans by signing a framework agreement in partnership with TAQA Arabia, which has great experience in the energy sector. This landmark project will contribute significantly to Egypt’s transition to a green sustainable economy. The project will enhance Egypt energy security by becoming less reliant on fossils fuels and achieving sustainable development goals.”

Ms. Pakinam Kafafi, CEO of TAQA Arabia, noted: “TAQA Arabia is committed to contribute in building the green economy in Egypt, in line with the state’s efforts. This commitment is reflected in a continuation to our operations through strategic partnerships with the most important players in the energy sector. As such, we sign this framework agreement with the French Voltalia, NREA, SCZone, and TSFE.”

Eng. Khaled Abubakr, Chairman of TAQA Arabia, added: “This conference reflects the EU’s confidence in Egypt’s economic achievements evidenced by the economic reform programs implemented by the government over the past decade. These reforms include exceptional efforts to increase the share of renewable energy.”