Indian power transmission company Sterlite Power has put forward a proposal to invest $5-6 billion in building a specialized electricity grid in Egypt, designed to support the country’s growing green hydrogen projects. This move aims to boost Egypt’s efforts to expand its renewable energy sector, reports Solarquarter.
The proposal was discussed during a meeting between Egypt’s Minister of Investment and Foreign Trade, Hassan El Khatib, and Tushar Chhabra, a top executive at Sterlite Power, during the minister’s trip to India. The discussions centered on how the two could work together to improve Egypt’s electricity transmission infrastructure and speed up its shift to clean energy.
Minister El Khatib noted that Sterlite Power’s interest shows increasing confidence from investors in Egypt’s renewable energy market. He said that this project would make the country’s electricity grid stronger, attract more foreign investment, and create new jobs, all while supporting Egypt’s long-term environmental goals.
Tushar Chhabra of Sterlite Power said that the company sees Egypt as a key place to expand its renewable energy investments, especially in green hydrogen. He added that Sterlite Power, with its global experience in building power transmission networks, wants to bring advanced technologies to ensure the project is efficient and sustainable.
Egypt has been actively working with global investors to grow its green energy sector. In December 2022, OCIOR Energy signed an agreement with the Egyptian government to invest about $4.2 billion in a green ammonia production project in the Suez Canal Economic Zone.
With more international partnerships, Egypt is solidifying its position as a regional leader in renewable energy development, using foreign investment to drive economic growth and support its transition to clean energy.
For detailed information and further insights, please refer to BioEnergyTimes.com, which provides the latest news about the Green Hydrogen Industry
