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Voltalia and Taqa Arabia study development of cluster for renewable energy generation with green hydrogen production in Egypt

This agreement represents an expansion of the Memorandum of Understanding signed in December 2022.

Joshua Falcón.

Published: July 1, 2024

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Voltalia and TAQA Arabia have consolidated their commitment to the development of a cluster integrating renewable energy generation and green hydrogen production in Egypt. During the Egypt-EU 2024 Investment Conference in Cairo, under the patronage of Ursula von der Leyen and Abdel Fattah El-Sisi, a framework agreement between the two entities was formalized.

Cluster development and innovative technologies

This agreement represents an expansion of the Memorandum of Understanding signed in December 2022. The two partners plan to implement the project in two phases, each equipped with a 500-megawatt electrolyzer, powered by more than 1.3 gigawatts of solar and wind power . This complex is located near the port of Ain Sokhna in the Suez Canal Economic Zone, and aims to produce more than 130,000 tons of hydrogen annually per phase.

The signing ceremony was attended by leading figures from the Egyptian government, including Prime Minister Mostafa Madbouly and several key ministers, as well as senior executives from Voltalia and TAQA Arabia. Voltalia’s founder, Sebastien Clerc, mentioned the strategic importance of the project for Egypt, underlining its contribution to the green economy and the reduction of dependence on fossil fuels.

TAQA Arabia CEO Pakinam Kafafi emphasized her company’s commitment to the Egyptian green economy, highlighting collaboration with Voltalia and other key partners in the energy sector. For his part, Khaled Abubakr, chairman of TAQA Arabia, praised Egypt’s economic reforms and the EU’s confidence in its progress, particularly in increasing renewable energy.