The representative of the United Nations Industrial Development Organization Ahmed Rizk stated that Egypt is one of the first countries to produce green hydrogen, having started in the 1960s with the Aswan High Dam.
He added that Egypt was also an early adopter of solar energy in Maadi.
During a Sunday interview with the TeN satellite channel, Rizk noted that the economic feasibility of new and renewable energy and green hydrogen is constantly increasing, especially with the high prices of conventional energy.
The Egyptian government aims to increase the use of new energy, he said, and has signed on with many companies in the green hydrogen field as Egypt aims to be a regional center for it.
The Russian-Ukrainian crisis has imposed an international need to rely on new and renewable energy, he said, noting that some countries have been able to utilize renewable energy by up to 80 percent.
Rizk explained that the backbone of this industry are small and medium enterprises, but noted their participation in added value and exports is not as large.
This must be corrected as Egyptian exports depend to a large extent on large companies, he added, explaining that the inclusion of small companies and projects in the export base would contribute significantly to Egypt’s dream of exports worth US$100 billion.
The Information and Decision Support Center of the Egyptian Cabinet issued a report where it predicted a rise in Egypt’s GDP between US$10 to $18 billion as a result of a nearly seven-fold increase in the green hydrogen economy by 2050.
According to the report issued in July, Egypt ranked fifth in the Arab world and North Africa in the green hydrogen index of Fitch Solutions for 2022.
Source : EgyptIndependent