The most prominent agreements signed by Egypt during COP27

Egypt paid great attention to the field of renewable energy، so agreements worth $83 billion were signed in it and the Ministry of Transport also signed 4 memorandums of understanding in the field of railways، Tunnel Metro and electric traction، and  contracted also with international companies to reduce carbon emissions in the petroleum sector.

Agreements worth $83 billion in the renewable energy sector

"Osoul Misr" sheds light on a number of agreements signed by Egypt in various fields on the sidelines of the Climate Conference:

Green Fuel

Egypt is very interested in the production of green fuel، and during the Climate Conference، 8 contracts for the production of green fuel were signed within the Suez Canal economy، and other contracts were also signed، including a contract for the Norwegian company Skatek، which aims to establish a new facility in the Sokhna region for the manufacture of green ammonia with a capacity of one million tons annually، that can be increased to 3 million tons annually، and the Emirati AMEA Power contract، which includes the production of 390 thousand tons of green ammonia annually، starting its commercial operation by the end of 2025.

A contract with Indian ReNew Power

A contract was also signed among the Suez Canal Economic Zone، the Sovereign Fund of Egypt، the Egyptian Company for Electricity Transmission and Distribution، and the New and Renewable Energy Authority with the ReNew Power Indian company in cooperation with the El Sewedy Foundation، to establish a project to produce green fuel from hydrogen and ammonia، with a total production capacity of 1.1 million tons of green ammonia and 220 thousand tons of green hydrogen annually.

Several agreements and memorandums of understanding were signed on the sidelines of COP27 in various fields aimed at confronting environmental changes

Dr. Mohamed Shaker، Minister of Electricity and Renewable Energy، signed a memorandum of understanding on the partnership strategy for green hydrogen between the Arab Republic of Egypt and the European Union، with approving the contribution of the European Commission to support the energy arena within the NWAFE program for water، food and energy، amounting to more than € 35 million.

In addition، 9 framework agreements were signed to implement green hydrogen and its derivatives production projects using renewable energies from wind and solar energy with capacities of up to 47 and 24 thousand megawatts of electrolysis capacity، with investments of  $85 billion.

Petroleum and Electricity

Concerning the petroleum sector، Egypt signed 7 memorandums of understanding and agreements with international companies to reduce carbon emissions، and a number of agreements and cooperation protocols were also signed between the Sovereign Fund of Egypt and some developers with a value of $83 billion in the renewable energy sector.

Furthermore، a memorandum was signed among  the Egyptian Electricity Transmission Company، the New and Renewable Energy Development and Utilization Authority، and the Norwegian company  Scatec ASA  to implement a station project for  producing electricity from the wind with a capacity of 5 gigawatts.

Memorandums of understanding between local and  international  companies

The Saudi and Egyptian governments signed a memorandum of understanding for cooperation between the two countries in the fields of electricity، renewable energy and clean hydrogen.

In addition، a number of memorandums of understanding were signed with international and local companies as well as  alliances to conduct the necessary studies to implement electricity production projects from wind energy with capacities of up to 28 thousand megawatts and the expected investments of these projects amount to $ 34 billion، with the provision of direct and indirect jobs estimated at about 50 thousand job opportunities، and contributing to reducing carbon emissions by about 65 million tons annually.

A memorandum of understanding was also signed between the Ministry of Communications and Information Technology with Honeywell Egypt، regarding achieving sustainable digital operational excellence for Egyptian government institutions and transforming them into smart institutions based on modern environmentally friendly technology.