Switzerland’s “Smartenergy” eyes Egypt for a green hydrogen investment opportunity worth USD 1bn. The expansion would be the firm’s first outside Europe.
The company is later in negotiations with the Egyptian government to build a green hydrogen plant.
According to Smartenergy’s Chief Financial Officer René Cotting, the agreement between both parties will soon be ratified. However, he did not provide any additional information on the matter.
Sources mentioned that the agreement was initially scheduled to be signed some time ago. Still, delays occurred due to specific procedures concerning new land licenses and issuance dates, according to the “Egyptian Streets” website.
A source from the Egyptian government later confirmed that the agreement is set to be signed in the fourth quarter of 2023.
