Egypt establishes 'National Council For Green Hydrogen' to boost green investment

The body – officially named the National Council for Green Hydrogen and its Derivatives – also aims to ensure the country's regional and international competitiveness, read a Cabinet statement on Wednesday.

It will be headed by Prime Minister Mostafa Madbouly and count among its members the ministers of electricity and renewable energy, petroleum and mineral resources, finance, environment, and the Executive Director of Egypt’s Sovereign Fund.

The council will be tasked with monitoring the implementation of the country's National Strategy for Green Hydrogen and working to overcome obstacles facing green investment.

It will also be responsible for reviewing all legislation and regulations concerning green hydrogen and its derivatives, according to the statement.

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), seeking to become a global hub for its production.