Voltalia and TAQA Arabia Sign Framework Agreement for Renewable Energy and Green Hydrogen Cluster in Egypt

Voltalia, a global leader in renewable energies, and its partner TAQA Arabia have signed a framework agreement during the Egypt-EU Investment Conference 2024, held on June 29-30 in Cairo. The conference was held under the auspices of Ursula von der Leyen, President of the European Commission, and Abdel Fattah El-Sisi, President of Egypt.

This agreement follows a Memorandum of Understanding (MoU) signed in December 2022, aimed at developing a cluster combining green hydrogen production with renewable energy generation. The project, to be located near Ain Sokhna port in the Suez Canal Economic Zone, will be implemented in two phases. Each phase will feature a 500-megawatt electrolyzer powered by over 1.3 gigawatts of solar and wind energy, with an annual production capacity exceeding 130,000 tons of hydrogen per phase.

The signing ceremony was attended by prominent Egyptian officials including Prime Minister H.E. Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy H.E. Dr. Mohamed Shaker, and Minister of Planning and Economic Development Dr. Hala Al-Saeed. Representatives from Voltalia and TAQA Arabia, along with key government officials, were also present.

Sebastien Clerc, CEO of Voltalia, stated, “Egypt has promising opportunities to enhance its regional leadership in green hydrogen production and export. Voltalia is committed to supporting Egypt’s green transformation plans through this landmark project, which will significantly contribute to the country’s transition to a sustainable green economy.”

Ms. Pakinam Kafafi, CEO of TAQA Arabia, added, “TAQA Arabia is dedicated to building a green economy in Egypt, in line with the state’s efforts. Our strategic partnership with Voltalia, NREA, SCZone, and TSFE reflects this commitment.”

Eng. Khaled Abubakr, Chairman of TAQA Arabia, remarked, “This conference showcases the EU’s confidence in Egypt’s economic reforms, including efforts to increase the share of renewable energy.”