Egypt enlists Australian company to help develop green hydrogen project

Egyptian President Abdel Fattah al-Sisi met with an Australian green energy company recently to discuss a green hydrogen project. 

Fortescue Future Industries discussed a potential 9.2-gigawatt green hydrogen project in Egypt with Sisi during the meeting, the company said in a statement Saturday. 

Last month, Fortescue signed a Memorandum of Understanding with Egypt on exploring green hydrogen opportunities.

What is green hydrogen? Hydrogen that is separated from water can be used as an energy source. When this separation process is carried out via renewable energy, such as wind or solar power, it is referred to as green hydrogen. 

Green hydrogen emits less carbon than traditional fuel sources. However, it also requires substantial energy and funds to create, according to the Spanish renewable energy company Iberdrola. 

Why it matters: Egypt is investing more in green technology and renewable energy ahead of the United Nations Climate Change Conference (COP27), which will take place in Sharm el-Sheikh in November. These investments include funding for green hydrogen projects. 

Most recently, a Saudi company agreed last month to build a green hydrogen facility in Egypt.