Egypt moves ahead with plan for green hydrogen incentives

Egypt has enacted legislation offering tax incentives and other advantages for green hydrogen initiatives, aiming to foster renewable energy growth and allure investment.

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The Energy and Environment Committee of the Egyptian parliament on Monday approved a draft law that offers tax and non-tax incentives for projects focused on the production of green hydrogen and its derivatives in the North African country.

The draft law was submitted by the government and discussed at two meetings attended by representatives of the ministries of electricity and renewable energy, planning and economic development, as well as finance. Waleid Gamal El-Dien, the chairman of the Suez Canal Economic Zone (SCZONE) which will host many of the planned green hydrogen projects, also took part in the discussions.

During the debates, the minister of parliamentary affairs Alaa El-Din Fouad pointed out that the draft law provides many incentives targeted at developing green energy, attracting investments, and making the country competitive. The goal is to position Egypt as an international hub for the production of green hydrogen and its derivatives.

Details about the incentives were not disclosed in the statement published by the Egyptian Cabinet on Monday.

In May, Egypt's finance minister Mohamed Maait said that the government was planning to offer a tax incentive to support the production of green hydrogen at a rate ranging from 33% to 55% of taxes due.

Джерело: https://renewablesnow.com/news/egypt-moves-ah