According to official sources, Egypt’s expected investment in green hydrogen projects through 2030 totals approximately USD41.5 billion, and is thereafter expected to rise to USD81.6 billion.
In the first phase, the state’s share is expected to be 20 to 25 percent of the total investment volume, with contributions from Egypt’s Sovereign Fund and the Egyptian Electric Transmission Company, with potential contributions from the Suez Canal Economic Zone.
Leading renewable power producer Scatec, aims to invest approximately USD5.2 billion in the first phases of the project, with the state expected to contribute between USD260 million to USD330 million. The company aims to bring its total investments for hydrogen projects to USD15.6 billion.
Other multinationals to invest in Egypt
Multinational giant Maersk, with an investment of USD4.7 billion, also aims to participate in the first phase of hydrogen projects in the country, until 2030. The country’s contribution to the projects will be between USD240 million and USD290 million. After completion of the first phase, the company will seek to increase its investments to USD14 billion.
In addition to these investments, Total plans to implement a hydrogen project in the country with an investment greater than USD5 billion, to which the state would contribute between USD250 million and USD310 million.
French giant EDF is yet another company intending to implement hydrogen projects in Egypt until 2030, with an investment of USD1 billion, in addition to the state’s contribution of between USD500 million to USD600 million. After the first phase, the company will extend a further USD3 billion as investment in the projects.
Subsidiary of UAE-based Al Nowais Group, Amia Power, intends to implement hydrogen projects worth USD800 million until 2030, and after 2035, investments from the company are slated to rise to USD1.9 billion.
Joining the group of companies investing in Egypt, UAE-based Masdar also plans to implement hydrogen projects with an investment of USD11.3 billion until 2030, and Egypt’s contribution would range from USD570 million and USD710 million. The company’s investments are expected to rise to USD12.5 billion after the year 2030.
Belgian company Demi also intends to implement hydrogen projects in Egypt with investments amounting to $3.6bn until 2030, and the state’s share ratio is expected to range between $180m and $230m.
And last, but not the least, Fortisky Future is expected to implement hydrogen projects in Egypt, with investments of up to USD10 billion, with the state contributing USD500 million to USD630 million to the project.