Global investor in sustainable infrastructure Actis has signed a memorandum of understanding (MoU) with the Egyptian government for green hydrogen development.
Courtesy of Actis
The MoU will give Actis an entry point into what could be one of the largest hydrogen markets in the region. Egypt has a comparative advantage due to its renewable resources and proximity to European and Asian markets.
Currently, almost all of the world’s hydrogen is produced using fossil fuels, with a significant amount of CO2 emitted as a byproduct of the process. Green hydrogen is far superior because it is generated by electrolysing water using renewable electricity and has zero emissions. The production cost of green hydrogen depends on two factors: the cost of renewable power and the cost of the electrolysis equipment. It is currently more expensive than fossil fuel-based hydrogen…