Sharm El-Sheikh – Egypt has pushed strongly for expanding renewable energy production to reduce greenhouse gases, improve air quality, and enhance opportunities for a gradual transition towards reliance on sustainable energy. Paddy Padmanathan, Vice Chairperson and CEO of ACWA Power, expects the group to inject up to $10bn worth of investments in Egypt by 2026. He stressed the company’s desire to push forward the cooperation processes with the energy sector in Egypt to promote the transition towards sustainable and clean energy and reduce emissions. It will also produce about 650 tonnes of green hydrogen per day and 1.2 million tonnes of green ammonia annually, with investments exceeding $6bn. He added that all of these projects have created a strong experience that qualifies it to develop many projects in this sector, especially the green hydrogen sector in Egypt.

Source: Daily News Egypt November 26, 2022 20:46 UTC