As part of its efforts to reduce water scarcity, Egypt’s Ministry of Planning and Economic Development is getting ready to offer new water desalination projects through the Sovereign Fund of Egypt (TSFE).
Hala El-Said, Egypt’s planning minister and Chairperson of TSFE, noted that green hydrogen projects had been under negotiations for a long period, adding that investors had sealed preliminary agreements.
According to El-Said, investors are planning to begin feasibility studies, obtain the necessary financing, and look for domestic and foreign partners.
During the UN Climate Change Conference (COP 27), TSFE inked a series of cooperation deals and protocols with nine developers in the renewable energy sector at a total value of $83 billion.
Read more: COP 27: Egypt signs deals worth $83 bn in renewable energy
El-Said anticipated that these agreements would be completed in the second quarter (Q2) of 2023 and that work would begin soon after.
The first phase of the hydrogen projects included $16.5 billion in projects to be completed in 2025–2026, $38 billion in projects to be completed by 2030, and $28.5 billion in projects to be finalized by 2035.
In May, the Egyptian government announced its decision to expand seawater desalination projects in the upcoming period, especially in coastal and border cities, by building 14 new plants.
The Sovereign Fund was set up in 2018 with the goal of attracting private investment in state-owned assets through partnerships and co-investments.