Egypt's Green Hydrogen Law Already Yielding Dividends

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Egypt's ambitious "Vision 2030" strategy, launched in February 2016, has taken a significant step forward with the enactment of Law No. 2 of 2024, also known as the Green Hydrogen Incentives Law. 

This legislation, approved by the Egyptian House of Representatives in January 2024, offers substantial tax incentives to promote the development of green hydrogen projects within the country.

 Following this landmark decision, Egypt has swiftly moved to capitalize on its green hydrogen potential by signing seven agreements with international developers. These agreements, expected to attract over $40 billion in investments over the next decade, signify Egypt's commitment to becoming a key player in green hydrogen production and renewable energy.

Egypt's proactive approach to incentivizing green hydrogen projects underscores its determination to lead the transition towards renewable energy in North Africa. By offering tax credits and exemptions, Egypt aims to attract both domestic and foreign investments, fostering a conducive environment for sustainable development. Meanwhile, neighboring countries like Morocco are also making strides in green hydrogen production, signaling a shift towards cleaner energy sources across the region. 

However, Algeria and Tunisia lag behind in this endeavour, potentially missing out on the economic and environmental benefits associated with renewable energy adoption.

As Egypt and Morocco take the driving seat in green hydrogen production, it highlights the importance of strategic planning and policy implementation in unlocking the full potential of renewable energy resources in North Africa.

Written by Mubarak Abdullahi for The Bavijas Review.

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