Voltalia and its partner TAQA Arabia have formalized a framework agreement during the Egypt-EU Investment Conference 2024, aimed at developing a cluster that combines renewable energy production with green hydrogen.
The conference was held on June 29th and 30th in Cairo, under the patronage of Ursula von der Leyen, President of the European Commission, and Abdel Fattah El-Sisi, President of Egypt.
The green hydrogen sector is experiencing significant momentum in Egypt, as exemplified by the collaboration between MoU, DNV, and Petrojet.
Project Scope and Phases
This project, initiated by a memorandum of understanding signed in December 2022, involves Voltalia’s plan to construct two identical phases.
Each phase will feature a 500-megawatt electrolyzer powered by over 1.3 gigawatts of solar and wind energy. The annual hydrogen production capacity of each phase will exceed 130,000 tons, with the facility located near the port of Ain Sokhna in the Suez Canal Economic Zone.
Project Development and Implementation
The project’s implementation will be carried out in two phases, incorporating advanced technologies to maximize the efficiency of hydrogen production.
The location near the port of Ain Sokhna will facilitate exports, thus strengthening Egypt’s position in the global hydrogen market. This development reflects the commitments made by both companies to support Egypt’s economic goals and reduce its energy dependency.
High-Level Participation
The signing ceremony was attended by high-ranking officials, including the Egyptian Prime Minister, Dr. Mostafa Madbouly, and the Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker.
Representatives from key organizations such as the Sovereign Fund of Egypt (TSFE), the Suez Canal Economic Zone General Authority (SCZONE), and the New and Renewable Energy Authority (NREA) were also present.
Strategic Partnerships and Commitments
Sebastien Clerc, CEO of Voltalia, emphasized the importance of this partnership, stating, “Egypt offers opportunities to strengthen its role in hydrogen production. Voltalia is determined to support these efforts with TAQA Arabia, an expert in the energy sector.”
Pakinam Kafafi, CEO of TAQA Arabia, added that this project is a continuation of the company’s efforts to develop strategic projects in Egypt. Eng. Khaled Abubakr, Chairman of TAQA Arabia, also noted that the conference illustrates the EU’s confidence in Egypt’s economic reforms and the increasing share of renewable energy.
This project demonstrates the effective collaboration between the public and private sectors in carrying out major energy initiatives, positioning Egypt as a key player in the global hydrogen market.