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Voltalia and TAQA Arabia sign framework agreement for renewable energy and green hydrogen cluster in Egypt

Posted on by darion

Image of. Source: Canva

Voltalia, a global leader in renewable energy, and its partner TAQA Arabia signed the framework agreement during the Egypt-EU Investment Conference 2024, which took place 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.

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The agreement is a continuation of a Memorandum of Understanding (MoU) signed in December 2022 to develop a cluster combining green hydrogen production with renewable energy generation. The project, to be built near the port of Ain Sokhna in the Suez Canal Economic Zone, will be implemented in two phases. Each phase will consist of a 500-megawatt electrolyzer powered by more than 1.3 gigawatts of solar and wind energy, with an annual production capacity of more than 130,000 tons of hydrogen per phase.

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

Sebastien Clerc, CEO of Voltalia, said: “Egypt has promising opportunities to strengthen its regional leadership in green hydrogen production and export. Voltalia is committed to supporting Egypt’s green transformation plans through this groundbreaking 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 committed to building a green economy in Egypt, in line with the efforts of the state. Our strategic partnerships with Voltalia, NREA, SCZone and TSFE reflect this commitment.”

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