Egypt could be set to grow its hydrogen economy with the revealing today on March 7 of a memorandum of understanding (MoU) to assess low-carbon hydrogen production in the country.
Signed by the European Bank for Reconstruction and Development (EBRD), the company will support Egypt in achieving its renewable energy potential with masses of solar energy production which can then be turned into hydrogen.
A framework for assessing the potential of low-carbon hydrogen supply chains will be explored by EBRD and the Egyptian Ministry of Electricity and Renewable Energy and the Ministry of Petroleum and Mineral Resources.
The assessment will include mapping the current and future expected international supply and demand of the hydrogen market, analysing existing and potential hydrogen production in Egypt and valuing the storage, conversion and transportation of hydrogen and its derivatives.
As well as this, it will provide guidelines for the country’s low-carbon hydrogen strategy, promoting the sustainable development of hydrogen as a decarbonised fuel for climate change mitigation, while ensuring cost effectiveness and identifying potential areas for investment.
Mark Bowman, Vice-President for Policy at the European Bank for Reconstruction and Development, said, “We are very proud to contribute to Egypt’s future national low-carbon hydrogen strategy, which is in line with the Bank’s commitment to mitigating climate change where it invests.
“The Bank has been a strong supporter of renewable energy development in Egypt, providing policy advice, technical assistance and financing. Our aim is to back the country in achieving another milestone.”