Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, has confirmed plans for the development of an $8 billion green hydrogen plant in the Suez Canal Economic Zone (SCZONE) in collaboration with the Indian company ReNew Power. This announcement was made during a recent meeting with Vikram Kapur, Group President at ReNew Power. The initiative aims to position Egypt as a key regional hub for clean energy.

The discussions focused on enhancing cooperation in renewable energy and green investments, which are essential for supporting Egypt’s sustainable economic development strategy. El-Khatib praised ReNew Power’s contributions to renewable energy investments within the country, highlighting that such partnerships not only foster sustainable development but also create new job opportunities.

ReNew Power previously signed a framework agreement with the Egyptian government during the COP27 climate conference in 2022 to advance the green hydrogen project and its associated facilities. This collaboration underscores Egypt’s commitment to becoming a leader in renewable energy initiatives.