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Egypt is planning to invest up to $4 billion in a project to generate green hydrogen via electrolysis, according to a report in Arab News , citing the Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker. Shaker said that an area of more than 7,000 sq.
The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). Despite temporary cost rises for renewables, the gap to fossil fuel power generation continues to widen due to fuel and carbon prices rising even faster.
The Middle East represents a big opportunity and a very promising region for us, given the high levels of solar exposure, strong appetite for green hydrogen projects, and strategic geographic position between Europe and Asia. In this regard, green hydrogen is currently in a similar position to that of solar power a decade ago.
A large part of this potential comes from six relatively standardized categories: solar and wind energy; efficient appliances; efficient passenger cars; afforestation and stopping deforestation. The report shows that emissions could be reduced by up to 30 to 40 GtCO 2 e per annum, with costs below US$100/tCO 2 e.
This geographically diverse group comprises Brazil and Mexico in the Americas; South Africa and Nigeria in Africa; Egypt and Turkey in North Africa/Mediterranean; Saudi Arabia and Iran in the Middle East; as well as Thailand and Indonesia in Asia. Renewables in total will account for about 15% of energy demand in 2040.
Semiconductors, green hydrogen, renewable energy, electronics, MSMEs, and electric mobility are some of the focus areas for the summit. We are constructing the world’s largest Renewable Energy Park at Khavda and investing Rs 2 lakh crore in Gujarat.
That’s according to 2023 IEEE President Saifur Rahman , who was among the speakers from engineering organizations at the COP27 event held in Egypt in November. He also said low-cost, low-carbon hydrogen fuel should be considered as part of the renewable energy mix. We don’t have enough solar energy and wind energy.”
Held in Egypt from November 6 – 20, COP27 extended closing by more than a day to reach an agreement that developed nations will provide “loss and damage” funding for vulnerable countries hit hard by climate disasters. Smart algorithms flatten the demand curve and balance use of electricity across all chargers at a facility.
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