Voltalia (Euronext Paris), a global leader in renewable energy, and TAQA Arabia have signed a significant framework agreement to develop a cluster that combines renewable energy generation with green hydrogen production in Egypt. This agreement was formalized during the Egypt-EU Investment Conference 2024, held on June 29 and 30 in Cairo, under the auspices of Ursula von der Leyen, President of the European Commission, and Abdel Fattah El-Sisi, President of Egypt.
Major Agreement Signed to Enhance Egypt’s Green Energy Sector
This new agreement builds on a Memorandum of Understanding (MoU) signed in December 2022. The project will unfold in two phases, each incorporating a 500-megawatt electrolyzer powered by more than 1.3 gigawatts of solar and wind energy. Each phase will produce over 130,000 tons of hydrogen annually. The facility will be located near the Ain Sokhna port in the Suez Canal Economic Zone, optimizing logistics and export potential.
High-Level Support for Green Energy Initiative
The signing ceremony was attended by several high-profile Egyptian officials, including Prime Minister H.E. Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy H.E. Dr. Mohamed Shaker, and Minister of Planning and Economic Development Dr. Hala Al-Saeed. Other key representatives from the Egyptian government and related authorities also participated, underscoring the strategic importance of the project.
Strategic Partnership for Sustainable Development
Sebastien Clerc, CEO of Voltalia, expressed the project’s significance, stating, “Egypt has promising opportunities to enhance its regional leadership in green hydrogen production and export within the country’s plans for green transformation. Voltalia is working hard to support these plans by signing a framework agreement in partnership with TAQA Arabia, which has great experience in the energy sector. This landmark project will contribute significantly to Egypt’s transition to a green sustainable economy. The project will enhance Egypt’s energy security by becoming less reliant on fossil fuels and achieving sustainable development goals.”
Commitment to Egypt’s Green Economy
Ms. Pakinam Kafafi, CEO of TAQA Arabia, highlighted the strategic value of this partnership, saying, “TAQA Arabia is committed to contributing to building the green economy in Egypt, in line with the state’s efforts. This commitment is reflected in our ongoing operations through strategic partnerships with key players in the energy sector. As such, we sign this framework agreement with the French Voltalia, NREA, SCZone, and TSFE.”
Eng. Khaled Abubakr, Chairman of TAQA Arabia, noted, “This conference reflects the EU’s confidence in Egypt’s economic achievements evidenced by the economic reform programs implemented by the government over the past decade. These reforms include exceptional efforts to increase the share of renewable energy.”
Leading the Way in Renewable Energy and Hydrogen Production
This collaboration between Voltalia and TAQA Arabia represents a significant step towards establishing Egypt as a leader in renewable energy and green hydrogen production, supporting both national and global sustainability goals.
