Egypt secured nearly $33bnin investments for four green ammonia projects during the Egypt-EU Investment Conference held in Cairo. The largest agreement, valued at $14bn, involves British Petroleum (BP), Masdar, Hassan Allam Utilities, and Infinity Power Holding for a project in Sokhna Port. Ayman Soliman, CEO of TSFE, highlighted the fund’s commitment to promoting Egypt as a regional green energy hub by partnering with international players in the renewable energy sector. The projects are expected to contribute significantly to Egypt’s renewable energy goals and its efforts to decarbonize its energy sector. The signing ceremony was attended by Mohamed Shaker, Minister of Electricity and Renewable Energy, and Hala El-Said, Minister of Planning and Economic Development.

Source: Daily News Egypt June 30, 2024 17:44 UTC