Another green hydrogen project in Egypt? Swiss renewable power group Smartenergy are in talks to set up a USD 1 bn green hydrogen project in Egypt with agreements set to be signed in 4Q 2023, a government source told Enterprise Climate. The news was first reported by Asharq Alawsat, with Smartenergy’s Chief Financial Officer René Cotting confirming the firm is close to signing the agreement with Egypt without providing further details about the project or its timeline.

This would be the firm’s first project outside of Europe: Founded in 2011, Smartenergy invests in solar, wind, and hydrogen projects in Switzerland, Germany, Italy, Spain and Portugal. The company focuses on late stage development, ready-to-build, and operational assets, according to its website.

REMEMBER- Egypt is seeing a green hydrogen bonanza: The Egyptian government signed several framework agreements during COP27 with foreign companies to construct several green hydrogen and ammonia facilities in the SCZone. The facilities would cost a combined USD 83 bn and collectively produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year. Egypt also approved incentives in May to boost the country’s green hydrogen sector and lure in much-needed foreign exchange inflows.

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