Voltalia and TAQA Arabia sign agreement for green energy clusters in Egypt

The Egypt-EU Investment Conference was held under the auspices of Ursula von der Leyen, President of the European Commission, and Abdel Fattah el-Sisi, President of the Arab Republic of Egypt.

Voltalia and TAQA Arabia have signed a framework agreement to develop a green hydrogen and renewable energy cluster in Egypt. The project, supported by Egyptian government officials and the European Commission, includes two phases with 500 MW electrolysers each. It aims to produce more than 130,000 tons of hydrogen per year, contributing to Egypt’s green economy.

Working with its partner TAQA Arabia, Voltalia continues to develop a cluster combining renewable energy sources with green hydrogen production.

The framework agreement is a continuation of the Memorandum of Understanding (MoU) signed in December 2022 to develop a cluster combining green hydrogen production with renewable energy generation. The project will be implemented in two identical phases, each consisting of a 500-megawatt electrolyzer powered by over 1.3 gigawatts of solar and wind energy. The facility will have an annual production capacity of over 130,000 tons of hydrogen for each phase. It will be located on a greenfield site near the port of Ain Sokhna in the Suez Canal Economic Zone.

The signing ceremony was attended by HE Dr. Mostafa Madbouly, Prime Minister of Egypt, HE Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy and Dr. Hala Al-Saeed, Minister of Planning and Economic Development. Representatives of the Egyptian government were Mr. Ayman Soliman, CEO of the Sovereign Fund of Egypt (TSFE), Mr. Waleid Gamal El-Dein, Chairman of the General Authority of Suez Canal Economic Zone (SCZONE), Dr. Mohamed El-Khayat, Executive Chairman of the New and Renewable Energy Authority (NREA) and from TAQA Arabia, Eng. Khaled AbuBakr, Chairman of TAQA Arabia and Ms. Pakinam Kafafi, CEO of TAQA Arabia. From Voltalia, Eng. Karim El Azzawy, Voltalia Country Manager for Egypt and Jordan and Ms. Angela Africano, Head of Voltalia Special Projects.

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

Ms. Pakinam Kafafi, CEO of TAQA Arabiasaid: “TAQA Arabia is committed to contributing to the construction of a green economy in Egypt, in line with the efforts of the state. This commitment is reflected in the continuation of our activities through strategic partnerships with key players in the energy sector. In this regard, we are signing 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 performance, as evidenced by the economic reform programmes implemented by the government over the past decade. These reforms include exceptional efforts to increase the share of renewable energy.”

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Fibre2Fashion Press Office (HU)