According to Al Ahram Newspaper, Minister of Planning and Economic Development, Hala Al-Saeed, stated that the Integrated Sustainable Energy Strategy (ISES 2035) is pivotal to Egypt's plan for energy source diversification.

Al-Saeed disclosed Egypt's target to produce 1.5 million tons of green hydrogen annually by 2030, increasing to 5.8 million tons by 2040, with the Suez Canal Economic Zone participating in the production process.

Furthermore, Al-Saeed highlighted that the percentage of green projects in the plan will rise to 50% in the next fiscal year. She also pointed out Egypt's issuance of sovereign green bonds in 2020, making it the first country in the Middle East and North Africa region to do so.

The Minister made these statements during her participation at the special meeting of the World Economic Forum in Riyadh, Saudi Arabia, held from April 28-29, focusing on "Global Cooperation, Growth, and Energy for Development."

Source - Petroleum Today