Egypt’s cabinet granted approval to a draft law aimed at boosting green hydrogen projects and their related ventures.
The legislation applies to projects involved in the production of green hydrogen and its various by-products, provided that agreements are reached within five years of the law’s implementation.
The law encompasses a wide array of initiatives, including the establishment of green hydrogen production plants, desalination plants that allocate a portion of their production to green hydrogen, renewable energy facilities dedicating at least 95% of their output to green hydrogen and desalination plants, as well as projects focused on the transportation, storage, and distribution of green hydrogen. It also covers ventures engaged in manufacturing raw materials for green hydrogen plants.
Under the new law, projects and their expansions will benefit from a range of incentives throughout the duration of their project agreements. Expansion agreements, concluded within seven years of the project’s commercial operation, will also be eligible for these incentives, the report added.
Tags: Egypt, Energy, Green Hydrogen
Recent Posts
TSUNEISHI Launches World’s First Methanol Dual-Fuel KAMSARMAX Bulk Carrier in the Philippines
Grimaldi Group Launches Ammonia-Ready Car Carrier Grande Shanghai in China
Incat Tasmania to Build Two Battery-Electric Ferries for Denmark’s Molslinjen
YamnaCo Signs MoU with Andhra Pradesh to Develop Large-Scale Green Hydrogen and Ammonia Project
WNTI and NEMO Sign MoU to Advance Nuclear-Powered Shipping and Mobile Nuclear Energy Solutions
TotalEnergies and CMA CGM Form Joint Venture for LNG Bunkering Operations in Rotterdam
Keel laid for Bibby Marine’s first zero-emission eCSOV
New Report Highlights Potential of Voluntary Insetting to Support Maritime Decarbonisation, Calls for Robust Safeguards