Egypt targets 5-8% of global green hydrogen market by 2040: Petroleum minister

Egypt targets 5-8% of global green hydrogen market by 2040: Petroleum minister

Egypt aims to capture 5-8 percent of the global green hydrogen market by 2040, Minister of Petroleum and Mineral Resources Karim Badawi said on Wednesday.

The target aligns with the country’s plan to become a global hub for green hydrogen and its derivatives and to increase reliance on renewable energy, joining global climate commitments to reduce carbon emissions and use alternative clean energy sources.

Egypt, he explained, already has an integrated plan to upgrade its electricity grid to accommodate new capacities, stressing the importance of private sector participation in renewable energy projects.

Egypt aims to increase reliance on renewable energy to 42 percent by 2030 and 65 percent by 2040, Badawi told a discussion session held on the conclusion day of the Egypt Energy Show (EGYPES 2025).

Such a goal can be achieved by producing over 65 gigawatts of wind, solar, pumped storage, hydroelectric, and nuclear power, according to Badawi.

During the session, Environment Minister Yasmine Fouad stated that, despite Egypt’s emissions accounting for less than 1 percent of the global total, the country is committed to its climate targets.

She urged for increased climate finance and technology transfer to help accelerate these goals.

In recent months, Egypt has inked several deals with international alliances to produce green hydrogen and its derivatives in the Suez Canal Economic Zone (SCZone).

Minister Badawi said the government has created an attractive investment environment, removing obstacles to ensure timely addition of new capacity and grid connection. 

It has also allocated 42,000 sq km of land for renewable energy projects, he noted.

Egypt aims to produce green hydrogen at the lowest cost worldwide by 2050 at $1.7 per kg.

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Egypt targets 5-8% of global green hydrogen market by 2040: Petroleum minister, source

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