Voltalia will build over 2.5 GW of renewable energy sources in Egypt

The project will be implemented in two phases, each consisting of a 500 MW hydrogen electrolyzer powered by 1.3 GW of solar and wind energy, and will be built on greenfield sites in the Suez Canal Economic Zone.

“Egypt has promising opportunities to strengthen its regional leadership in green hydrogen production and exports as part of the country’s green transition plans,” said Sebastien Clerc, CEO of Voltalia. “This landmark project will significantly contribute to Egypt’s transition to a green, sustainable economy. This project will enhance Egypt’s energy security by reducing dependence on fossil fuels and achieving sustainable development goals.”

Reports from the EU-Egypt Investment Conference highlighted the role that green hydrogen production played in the deliberations. Reuters reported that EU companies struck deals potentially worth more than 40 billion euros during the conference, with a particular focus on Egypt’s strategic position for renewable energy exports.

In October last year Premium photovoltaic technology examined whether it is possible to export energy from North Africa to Europe based on a number of plans.

Voltalia is building on a successful fiscal year in 2023, in which it “exceeded” its targets. Much of that comes from its solar business and its decision to sell a number of solar and battery storage system (BESS) projects, which it says have given it a boost against low solar module prices.

The company recently announced plans to build a 130 MW solar project in Tunisia, thereby increasing its presence in North Africa, which is becoming an increasingly strategic region for European energy players.