{"id":7339,"date":"2024-06-30T09:10:53","date_gmt":"2024-06-30T09:10:53","guid":{"rendered":"https:\/\/madeinegyptgate.com\/?p=7339"},"modified":"2024-06-30T09:10:53","modified_gmt":"2024-06-30T09:10:53","slug":"egypt-eu-investment-conference-boosts-green-energy-with-multi-billion-euro-deals","status":"publish","type":"post","link":"https:\/\/madeinegyptgate.com\/ar\/egypt-eu-investment-conference-boosts-green-energy-with-multi-billion-euro-deals\/","title":{"rendered":"Egypt-EU Investment Conference boosts green energy with multi-billion-euro deals"},"content":{"rendered":"<p>The Egypt-EU Investment Conference, which commenced in Cairo on Saturday, saw the signing of several agreements for renewable energy production worth billions of dollars.<\/p>\n<p>One notable agreement was signed between the General Authority for Alexandria Port, Egypt&#8217;s New and Renewable Energy Authority (NREA), and an international consortium led by Belgium&#8217;s DEME HYPORT Energy.<\/p>\n<p>The agreement pertains to a mega project for the production of green hydrogen and green ammonia.<\/p>\n<p>The project, to be established in Gargoub, west of Matrouh, will require a total investment of \u20ac24 billion, with \u20ac3 billion allocated for the first phase.<\/p>\n<p>The project will cover an area of 1,180 square kilometers and is part of the Ministry of Transport&#8217;s plan to supply up to 2 million tons of green fuel annually to meet the EU&#8217;s energy needs.<\/p>\n<div class=\"imgcontainer\"><img data-recalc-dims=\"1\" decoding=\"async\" title=\"Gargoub Project\" src=\"https:\/\/i0.wp.com\/www.egypttoday.com\/siteimages\/ArticleImgs\/2024\/6\/29\/311049-Gargoub-Project.jpg?w=800&#038;ssl=1\" alt=\"Gargoub Project\" \/><br \/>\n<em>The Gargoub project signing &#8211; Photo: Cabinet<\/em><\/div>\n<p>&nbsp;<\/p>\n<p>In the presence of Prime Minister Mostafa Madbouly, the Red Sea Ports Authority, New and Renewable Energy Authority (NREA), and a consortium comprising French EDF Renewable and Egyptian-Emirati Zero Waste company signed a cooperation agreement for the production of green hydrogen and green ammonia.<\/p>\n<p>The agreement entails investments totaling \u20ac7 billion across three phases, with \u20ac2 billion allocated for the first phase to produce 1 million tons of green ammonia annually.<\/p>\n<p>The project will be established in Ras Shukeir on the western shore of the Gulf of Suez.<\/p>\n<p>Additionally, Madbouly witnessed the signing of an agreement for a green ammonia production project in Damietta between the Egyptian Petrochemicals Holding Company, Misr Fertilizers Production Company (MOPCO), and Norway&#8217;s renewable energy systems leader Scatec.<\/p>\n<p>The project carries an initial investment cost of $890 million and aims to produce up to 150,000 tons of green ammonia annually.<\/p>\n<p>It also aims to generate renewable energies totaling 480 MW of solar power and wind energy.<\/p>\n<div class=\"imgcontainer\"><img data-recalc-dims=\"1\" decoding=\"async\" title=\"Shukeir Project\" src=\"https:\/\/i0.wp.com\/www.egypttoday.com\/siteimages\/ArticleImgs\/2024\/6\/29\/287604-Shukeir-Project.jpg?w=800&#038;ssl=1\" alt=\"Shukeir Project\" \/><br \/>\n<em>The Ras Sukheir project signing &#8211; Photo: Cabinet<\/em><\/div>\n<p>&nbsp;<\/p>\n<p>Furthermore, The Sovereign Fund of Egypt (TSFE), Orascom Construction, Scatec, and Fertiglobe, a leading ammonia producer, signed an agreement for green hydrogen production in Sokhna with a capacity of 100 MW.<\/p>\n<p>The project aims to produce about 13,000 tons of green hydrogen annually, which will be converted into around 70,000 tons of ammonia produced from renewable sources.<\/p>\n<p>Ayman Soliman, CEO of TSFE, stated that the project includes the establishment of two renewable energy plants, utilizing wind and solar power, with a combined capacity of 270 MW to power the operations.<\/p>\n<div class=\"imgcontainer\"><img data-recalc-dims=\"1\" decoding=\"async\" title=\"Sokhna Project\" src=\"https:\/\/i0.wp.com\/www.egypttoday.com\/siteimages\/ArticleImgs\/2024\/6\/29\/102780-Sokhna-Project.jpg?w=800&#038;ssl=1\" alt=\"Sokhna Project\" \/><em>The Sokhna project signing &#8211; Photo: Cabinet<\/em><\/div>\n<p>&nbsp;<\/p>\n<p>The Egypt-EU Investment Conference was inaugurated by President Abdel-Fattah El-Sisi and Ursula von der Leyen, President of the European Commission, at Cairo&#8217;s Al Manara International Conference Center.<\/p>\n<p>The conference is taking place on June 29-30 under the theme, &#8220;Unlocking Egypt&#8217;s Advantages in a Fast-Changing World&#8221; with a focus on exploring the role of renewable energy in shaping a brighter future for Egypt.<\/p>\n<p>Various topics of cooperation, such as the green economy and circular economy, are being addressed during the conference.<\/p>\n<p>Government officials from Egypt and the EU, industry experts, and influential business leaders have convened at the conference to unlock investment opportunities.<\/p>\n<p>The forum sheds light on Egypt&#8217;s economic reforms aimed at enhancing competitiveness, promoting a green transition, and ensuring resilience in the face of global challenges.<\/p>\n<p>Additionally, the conference focuses on several key topics, including financial vehicles for investment, technology and entrepreneurship, as well as food and water security.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Egypt Today<\/p>\n<p>&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>The Egypt-EU Investment Conference, which commenced in Cairo on Saturday, saw the signing of several agreements for renewable energy production worth billions of dollars. One notable agreement was signed between [&hellip;]<\/p>","protected":false},"author":1,"featured_media":7349,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176,49,48],"tags":[],"class_list":["post-7339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs","category-latest-news","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt-EU Investment Conference boosts green energy with multi-billion-euro deals - Made In Egypt Gate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madeinegyptgate.com\/ar\/egypt-eu-investment-conference-boosts-green-energy-with-multi-billion-euro-deals\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt-EU Investment Conference boosts green energy with multi-billion-euro deals\" \/>\n<meta property=\"og:description\" content=\"The Egypt-EU Investment Conference, which commenced in Cairo on Saturday, saw the signing of several agreements for renewable energy production worth billions of dollars. 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