{"id":77501,"date":"2023-05-17T23:12:09","date_gmt":"2023-05-17T23:12:09","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/"},"modified":"2023-05-17T23:12:09","modified_gmt":"2023-05-17T23:12:09","slug":"egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/","title":{"rendered":"Egypt details tax incentives aimed to boosting green hydrogen industry"},"content":{"rendered":"

<\/a> Egypt greenlights green hydrogen incentives:<\/strong> The Egyptian Cabinet approved<\/a> yesterday a package of incentives aimed at stimulating the country\u2019s nascent green hydrogen industry and increasing FX inflows, according to a statement<\/a>. Under the draft decision, companies implementing green hydrogen projects within five years and deriving a certain percentage of their financing from foreign lenders will receive VAT and income tax breaks.<\/p>\n

What\u2019s on offer:<\/strong> Companies will receive tax breaks of between 33-55% on income earned from the plants, and will pay no VAT on raw materials, plant and machinery purchased for the projects. The facilities will be exempt from real estate tax, stamp tax, and a number of administrative fees. Companies will also be permitted to import and export without having their names in either of the registers.<\/p>\n

To be eligible:<\/strong> Companies will need to have their projects up and running within five years and obtain at least 70% of their financing from foreign lenders. They will also be expected to source at least 20% of their inputs from local suppliers as part of the country\u2019s push to increase localization and reduce reliance on imports.<\/p>\n

Desalination projects and power stations are also eligible \u2014 if they link up with green <\/strong>hydrogen plants:<\/strong> The incentives also target water desalination projects that allocate a percentage of their production to green hydrogen projects, and green power plants that allocate no less than 95% of their production to green hydrogen.<\/p>\n

New Red Sea wind farm also fast-tracked:<\/strong> Egyptian ministers yesterday approved a golden<\/a>license<\/a> to fast track work on the 500 MW Gulf of Suez wind farm<\/a> being built by Egypt\u2019s Orascom Construction, France\u2019s Engie, and Japan\u2019s Toyota Tsusho and Eurus Energy, according to a statement<\/a>.<\/p>\n

REFRESHER- <\/strong>The USD 680 mn project \u2014 which is slated to become Africa\u2019s largest wind facility when it begins operating at full capacity in 3Q 2025 \u2014 reached financial close last month. It is being financed<\/a> by a syndicate of Japanese and French banks alongside DFIs the European Bank for Reconstruction and Development (EBRD) and the Japan Bank for International Cooperation (JIBC).<\/p>\n

A wind plant for Scatec and Maersk\u2019s green projects:<\/strong> Egypt\u2019s Cabinet also approved requests by Norwegian renewables producer Scatec and Danish shipping giant Maersk to allocate a piece of land in the Gulf of Suez for a 320-MW wind farm that will power their green projects: a green hydrogen plant<\/a> and a USD 15 bn clean fuel project<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt greenlights green hydrogen incentives: The Egyptian Cabinet approved yesterday a package of incentives aimed at stimulating the country\u2019s nascent green hydrogen industry and increasing FX inflows, according to a statement. Under the draft decision, companies implementing green hydrogen projects within five years and deriving a certain percentage of their financing from foreign lenders will […]<\/p>\n","protected":false},"author":1,"featured_media":77502,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[249,11,39,458,88,330],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-energy","tag-enterpriseclimate","tag-green-hydrogen","tag-maersk","tag-renewables","tag-scatec","wpautop","entry"],"acf":{"mongo_id":"e9bb488d-340c-4d8e-a6cf-a17792457994","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1883.jpg","photo_position":"above","related_issue":[77491],"teaser":"","voice_url":""},"yoast_head":"\nEgypt details tax incentives aimed to boosting green hydrogen industry - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt details tax incentives aimed to boosting green hydrogen industry\" \/>\n<meta property=\"og:description\" content=\"Egypt greenlights green hydrogen incentives: The Egyptian Cabinet approved yesterday a package of incentives aimed at stimulating the country\u2019s nascent green hydrogen industry and increasing FX inflows, according to a statement. Under the draft decision, companies implementing green hydrogen projects within five years and deriving a certain percentage of their financing from foreign lenders will […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T23:12:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt details tax incentives aimed to boosting green hydrogen industry\",\"datePublished\":\"2023-05-17T23:12:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\"},\"wordCount\":411,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseClimate\",\"green hydrogen\",\"Maersk\",\"renewables\",\"Scatec\"],\"articleSection\":[\"GREEN HYDROGEN\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\",\"name\":\"Egypt details tax incentives aimed to boosting green hydrogen industry - Climate\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-05-17T23:12:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/climate\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt details tax incentives aimed to boosting green hydrogen industry\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"name\":\"Climate\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\",\"name\":\"Climate\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/25470.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/25470.svg\",\"caption\":\"Climate\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt details tax incentives aimed to boosting green hydrogen industry - Climate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/","og_locale":"en_US","og_type":"article","og_title":"Egypt details tax incentives aimed to boosting green hydrogen industry","og_description":"Egypt greenlights green hydrogen incentives: The Egyptian Cabinet approved yesterday a package of incentives aimed at stimulating the country\u2019s nascent green hydrogen industry and increasing FX inflows, according to a statement. Under the draft decision, companies implementing green hydrogen projects within five years and deriving a certain percentage of their financing from foreign lenders will […]","og_url":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/","og_site_name":"Climate","article_published_time":"2023-05-17T23:12:09+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Egypt details tax incentives aimed to boosting green hydrogen industry","datePublished":"2023-05-17T23:12:09+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/"},"wordCount":411,"publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1","keywords":["energy","EnterpriseClimate","green hydrogen","Maersk","renewables","Scatec"],"articleSection":["GREEN HYDROGEN"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/","url":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/","name":"Egypt details tax incentives aimed to boosting green hydrogen industry - Climate","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1","datePublished":"2023-05-17T23:12:09+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/egypt-details-tax-incentives-aimed-to-boosting-green-hydrogen-industry\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/climate\/"},{"@type":"ListItem","position":2,"name":"Egypt details tax incentives aimed to boosting green hydrogen industry"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/climate\/#website","url":"https:\/\/enterpriseam.com\/climate\/","name":"Climate","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/climate\/#organization","name":"Climate","url":"https:\/\/enterpriseam.com\/climate\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/25470.svg","contentUrl":"https:\/\/ent.news\/internal\/25470.svg","caption":"Climate"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1883.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pgVl2y-ka1","_links":{"self":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/77501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/comments?post=77501"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/77501\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/issue\/77491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media\/77502"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media?parent=77501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/categories?post=77501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/tags?post=77501"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/brand?post=77501"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=77501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}