Electricity: Green Hydrogen Cuts 39 Million Tons of Carbon Emissions Annually

Dr. Ayman Hamza, the spokesman for the Ministry of Electricity and Renewable Energy, confirmed that several agreements were signed during the COP27 climate conference, with developers and investors from the local and international private sectors for projects with direct foreign investment.

Hamza explained that a number of memorandums of understanding have been signed with international and local companies and alliances to conduct the necessary studies to implement electricity production projects from wind energy with capacities of up to 28,000 megawatts, with an expected investment volume of up to $34 billion, and direct and indirect job opportunities of up to 50,000. And contribute to reducing carbon emissions by a volume that may reach 65 million tons annually.

He added that these projects are intended to contribute to reducing carbon emissions by up to 39 million tons annually, and these 9 agreements were signed in partnership with the General Authority for the Suez Canal Economic Zone and the Sovereign Fund of Egypt.