Egypt approves draft law to promote green hydrogen initiatives
In the United Arab Emirates, Zawya reported that Egypt’s cabinet granted approval to a draft law aimed at boosting green hydrogen projects and their related ventures.
The legislation applies to projects involved in the production of green hydrogen and its various by-products, provided that agreements are reached within five years of the law’s implementation, according to the report.
The law encompasses a wide array of initiatives, including the establishment of green hydrogen production plants, desalination plants that allocate a portion of their production to green hydrogen, renewable energy facilities dedicating at least 95% of their output to green hydrogen and desalination plants, as well as projects focused on the transportation, storage, and distribution of green hydrogen. It also covers ventures engaged in manufacturing raw materials for green hydrogen plants.
Under the new law, projects and their expansions will benefit from a range of incentives throughout the duration of their project agreements. Expansion agreements, concluded within seven years of the project’s commercial operation, will also be eligible for these incentives, the report added.
Category: Hydrogen
