Voltalia and its partner TAQA Arabia formalized a framework agreement at the Egypt-EU 2024 Investment Conference, aimed at developing a cluster combining renewable energy production and green hydrogen. The conference was held on June 29 and 30 in Cairo, under the auspices of Ursula von der Leyen, President of the European Commission, and Abdel Fattah El-Sisi, President of Egypt. Egypt’s green hydrogen sector is very much alive and kicking, as illustrated by the collaboration between MoU, DNV and Petrojet.
This project, initiated by a memorandum of understanding signed in December 2022, in which Voltalia plans to build 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 tonnes, with the plant located near the port of Ain Sokhna in the Suez Canal Economic Zone.
Project development
The project will be implemented in two phases, incorporating advanced technologies to maximize the efficiency of hydrogen production. Its location near the port of Ain Sokhna will facilitate exports, strengthening Egypt’s position in the global hydrogen market. This development reflects the commitments made by both companies to support Egypt’s economic objectives and reduce its energy dependency.
The signing ceremony was attended by senior officials including the Egyptian Prime Minister, Dr. S. Kouchner. Mostafa Madbouly, and the Minister of Electricity and Renewable Energies, Dr. Mohamed Shaker. Representatives of key organizations such as the Sovereign Wealth Fund of Egypt (TSFE), the General Authority of the Suez Canal Economic Zone (SCZONE) and the Renewable Energy Authority (NREA) were also present.
Strategic Partnerships
Sebastien Clerc, CEO of Voltalia, emphasized the importance of this partnership: “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 part of the company’s ongoing 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 increasing share of renewable energy.
This project demonstrates the effective collaboration between the public and private sectors to bring major energy initiatives to fruition, positioning Egypt as a key player in the global hydrogen market.
