{"id":586881,"date":"2023-05-18T00:00:00","date_gmt":"2023-05-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/draft-incentives-to-boost-green-hydrogen-industry-have-seen-the-light-of-day\/"},"modified":"2023-05-18T00:00:00","modified_gmt":"2023-05-18T00:00:00","slug":"draft-incentives-to-boost-green-hydrogen-industry-have-seen-the-light-of-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/draft-incentives-to-boost-green-hydrogen-industry-have-seen-the-light-of-day\/","title":{"rendered":"Draft incentives to boost green hydrogen industry have seen the light of day"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Green hydrogen incentives get the greenlight: <\/span><span style=\"\">Ministers have <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ToedJ1VPWRysZQX4k6JvPjPzYcEn9m7VR3SJQCVhPzYyt7ZQByVy5Y29N3u48hctl\" style=\"\">approved<\/a><\/span><span style=\"\"> a package of <\/span><span>incentives aimed at stimulating Egypt\u2019s nascent green hydrogen industry and increasing FX inflows, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ToedJ1VPWRysZQX4k6JvPjPzYcEn9m7VR3SJQCVhPzYyt7ZQByVy5Y29N3u48hctl\" style=\"\">cabinet said<\/a><\/span><span style=\"font-weight:400;\"> following its weekly meeting yesterday. 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s on offer:<\/span><span style=\"\"> Companies will receive tax breaks of <\/span><span style=\"\">between 33-55%<\/span><span style=\"\"> on income earned from <\/span><span style=\"font-weight:400;\">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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">To be eligible:<\/span><span style=\"\"> Companies will need to have their projects up and running within five <\/span><span style=\"font-weight:400;\">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 government\u2019s push to increase localization and reduce reliance on imports.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Desalination projects and power stations are also eligible \u2014 if they link up with green <\/span><span style=\"font-weight:700\">hydrogen plants:<\/span><span style=\"font-weight:400;\"> 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. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/691623133008110\" style=\"\">GREENLIT<\/a><\/span><span style=\"font-weight:700\"> BY CABINET-<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">A draft law that seeks to give squatters a six-month period<\/span><span style=\"\"> \u2014 which may be <\/span><span>extended upon cabinet\u2019s approval \u2014 <\/span><span style=\"font-weight:700\">to submit requests to the government<\/span><span> to legalize their stay.<\/span><\/li>\n<li><span style=\"font-weight:700\">A grant by USAID for advancing climate action<\/span><span style=\"\">, which was inked in an agreement <\/span><span>between the government and USAID last September. <\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A range of tax breaks are on offer for green hydrogen projects that meet certain conditions<\/p>\n","protected":false},"author":1,"featured_media":586882,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7306],"tags":[282,93,72,254,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-energy","tag-enterpriseam","tag-green-hydrogen","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"a10abfdb-9dc8-4c91-ab5d-8513537de698","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1027.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt details tax incentives aimed to boosting green hydrogen industry","related_issue":[586869],"teaser":"A range of tax breaks are on offer for green hydrogen projects that meet certain conditions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.72aa3827-5feb-4b39-97a5-5c864a0c0fda.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Draft incentives to boost green hydrogen industry have seen the light of day - EnterpriseAM Egypt<\/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\/egypt\/2023\/05\/18\/draft-incentives-to-boost-green-hydrogen-industry-have-seen-the-light-of-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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\u201cimminent\u201d","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1169.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596076,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/ocior-energy-to-build-usd-4-bn-green-hydrogen-plant-in-sczone\/","url_meta":{"origin":586881,"position":1},"title":"Ocior Energy to build USD 4 bn green hydrogen plant in SCZone","author":"enterpriseam admin","date":"10 August 2023","format":false,"excerpt":"The plant will take 5-6 years to build, with expected revenues of USD 1 bn annually","rel":"","context":"In 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Ministers approved the incentives last week, after they were put forward by General Authority of Investment and Freezones (GAFI)\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549067,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/anything-for-our-first-green-hydrogen-plant\/","url_meta":{"origin":586881,"position":3},"title":"Anything for our first green hydrogen plant","author":"enterpriseam admin","date":"1 September 2022","format":false,"excerpt":"Cabinet assigned land plots for the solar and wind plants that will power the country\u2019s first green hydrogen plant in its weekly meeting on Wednesday, according to a statement. The alliance behind the 100-MW green hydrogen plant being built in Ain Sokhna \u2014 Norway\u2019s Scatec, Nassef Sawiris-backed ammonia producer Fertiglobe\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/94.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543665,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/cabinet-approves-minimum-wage-increase-startup-power-for-our-first-green-hydrogen-plant\/","url_meta":{"origin":586881,"position":4},"title":"Cabinet approves minimum wage increase + startup power for our first green hydrogen plant","author":"enterpriseam admin","date":"13 February 2022","format":false,"excerpt":"Cabinet greenlights minimum wage hike to EGP 2.7k: Cabinet approved a decision to increase the monthly minimum wage for state employees across all salary bands by EGP 300, bringing the public-sector overall minimum wage to EGP 2.7k, according to a cabinet statement. Ministers approved the wage hike \u2014 the second\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582858,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/energy-china-could-start-work-on-a-usd-5-1-bn-green-hydrogen-plant-in-may\/","url_meta":{"origin":586881,"position":5},"title":"Energy China could start work on a USD 5.1 bn green hydrogen plant in May","author":"enterpriseam admin","date":"9 March 2023","format":false,"excerpt":"The company signed an MoU for the plant late last year","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Green-hydrogen-plant-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/586881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=586881"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/586881\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/586869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/586882"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=586881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=586881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=586881"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=586881"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=586881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}