CAIRO – Egypt’s Prime Minister Mostafa Madbouli attended Sunday the signing ceremony of two memorandums of understanding (MoU) for co-operating on building hydrogen plants in the Suez Canal Economic Zone and the Egyptian Mediterranean coast.
The first MoU was signed between the General Authority For Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Co., the New and Renewable Energy Authority, Abu Dhabi Future Energy Company (Masdar), and Hassan Allam Property Management, the investment and development subsidiary of Hassan Allam Holding, Egypt’s leading engineering, procurement, construction and infrastructure company.
Meanwhile, the second MoU was inked between the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Co., the New and Renewable Energy Authority, Abu Dhabi Future Energy Company (Masdar), a leading developer and operator of utility-scale renewable energy projects, community grid projects, and energy services, and Hassan Allam Property Management.
” This signing is part of the strong brotherly relationship between the two countries Egypt and the United Arab of Emirates. There are directives of President Abdel Fattah Al-Sisi, President of the Republic, to strengthen and consolidate relations of cooperation with the UAE in various sectors. Egypt is working on encouraging investments in the field of green energy projects, as Egypt has potential that qualifies it to become a pivotal and regional hub in this vital field. Green hydrogen will change the shape of the global energy system during this stage and hopefully, our steps will accelerate the energy transition process in the region.” Dr. Mostafa Madbouly, the Egyptian prime minister said.
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