Egypt struggles to mobilise green hydrogen investment

Developers outline provisional plans to invest in multiple projects, but progress to FID remains elusive

Egypt celebrated the signing of a clutch of memorandums of understanding (MOUs) in late February with international and local investors to establish green hydrogen production plants along the banks of the Nile. The MOUs represent a total potential investment of $41b. Separately, the government let it be known that a European steelmaking giant is honing a proposal to develop a $4bn green steel complex in the North African state. However, with some 30 similarly provisional agreements now signed since the government launched its drive into the sector around the turn of the decade, the failure of any significant schemes to progress to FID is striking, as project developers struggle with demand a