Voltalia and Taqa Arabia pursue the development of the cluster
combining renewable energy generation with green hydrogen
production in Egypt
Voltalia (Euronext Paris, ISIN code: FR0011995588), an
international player in renewable energies, and its partner TAQA
Arabia, signed a framework agreement during the Egypt-EU Investment
Conference 2024, which was held on June 29 and 30 in
Cairo.
The Egypt-EU Investment Conference was held
under the auspices of Ursula von der Leyen, President of the
European Commission, and Abdel Fattah El-Sisi, President of the
Arab Republic of Egypt.
With its partner TAQA Arabia, Voltalia is
continuing to develop a cluster combining renewable energy and
green hydrogen production.
The framework agreement is a continuation of a
Memorandum of Understanding (MoU) signed in December 2022 to
develop a cluster combining green hydrogen production with
renewable power generation. The project will be implemented in two
identical phases, each comprising a 500-megawatt electrolyzer
powered by more than 1.3 gigawatt of solar and wind energy. The
facility will have an annual production capacity exceeding
350,000 tons of hydrogen for each phase. It will be located at
a greenfield site near Ain Sokhna port in the Suez Canal Economic
Zone.
The signing ceremony was attended by H.E. Dr.
Mostafa Madbouly, Egypt’s Prime Minister, H.E. Dr. Mohamed Shaker,
Minister of Electricity and Renewable Energy, and Dr. Hala
Al-Saeed, Minister of Planning and Economic Development.
Representatives from the Egyptian government included Mr. Ayman
Soliman, CEO of the Sovereign Fund of Egypt (TSFE), Mr. Waleid
Gamal El-Dein, Chairman of the General Authority of Suez Canal
Economic Zone (SCZONE), Dr. Mohamed El-Khayat, Executive Chairman
of the New and Renewable Energy Authority (NREA), and From TAQA
Arabia Eng. Khaled AbuBakr, Chairman of TAQA Arabia and Ms. Pakinam
Kafafi, CEO of TAQA Arabia, On Voltalia’s side, Eng. Karim El
Azzawy, Voltalia’s Country Manager for Egypt and Jordan, and Ms.
Angela Africano, Voltalia’s Head of Special Projects.
Sebastien Clerc, CEO of Voltalia said: “Egypt
has promising opportunities to enhance its regional leadership in
green hydrogen production and export within the country’s plans for
green transformation. Voltalia is working hard to support these
plans by signing a framework agreement in partnership with TAQA
Arabia, which has great experience in the energy sector. This
landmark project will contribute significantly to Egypt's
transition to a green sustainable economy. The project will enhance
Egypt energy security by becoming less reliant on fossils fuels and
achieving sustainable development goals.”
Ms. Pakinam Kafafi, CEO of TAQA Arabia, said: “TAQA
Arabia is committed to contribute in building the green economy in
Egypt, in line with the state’s efforts. This commitment is
reflected in a continuation to our operations through strategic
partnerships with the most important players in the energy sector.
As such, we sign this framework agreement with the French Voltalia,
NREA, SCZone, and TSFE.”
Eng. Khaled Abubakr, Chairman of TAQA Arabia,
added: “This conference reflects the EU’s confidence in Egypt’s
economic achievements evidenced by the economic reform programs
implemented by the government over the past decade. These reforms
include exceptional efforts to increase the share of renewable
energy.”
Next on the agenda: Turnover for the 2nd
quarter of 2024, July 24, 2024 (after market close)
About Voltalia
(www.voltalia.com)
Voltalia is an international player in the
renewable energy sector. The Group produces and sells electricity
generated from wind, solar, hydraulic, biomass and storage
facilities that it owns and operates. Voltalia has generating
capacity in operation and under construction of more than 3 GW and
a portfolio of projects under development representing total
capacity of 16.6 GW.
Voltalia is also a service provider and supports
its investor clients in renewable energy projects during all
phases, from design to operation and maintenance.
As a pioneer in the corporate market, Voltalia
provides a global offer to private companies, ranging from the
supply of green electricity and energy efficiency services to the
local production of their own electricity.
With more than 1,850 employees in 20 countries
on 3 continents, Voltalia has capacity to act globally for its
customers.
Voltalia is listed on the regulated market of
Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of
Enternext Tech 40 and CAC Small indices. The Group is also included
in the Gaïa-Index, an index for socially responsible midcaps.
Loan Duong, Head of communications and Investor relationsEmail :
invest@voltalia.comT. +33 (0)1 81 70 37 00
Seitosei ActifnPress Contact: Jennifer JulliaEmail:
jennifer.jullia@seitosei-actifin.comT. +33 (0)1 56 88 11 19 |
About TAQA Arabia’s:
TAQA Arabia (TAQA.CA), listed on the Egyptian
Stock Exchange (EGX), is the leading group in energy distribution
and its integrated services in Egypt and the MENA Region. Serving
more than 1.8 million domestic, industrial, touristic, and
commercial clients with their daily needs of natural gas,
electricity, renewable energy, petroleum products, and water in 50
Egyptian cities. TAQA Arabia invests, constructs, and operates and
maintains energy infrastructure including gas transmission &
distribution in 8 governorates, conventional and renewable power
generation & distribution with capacities exceeding 1300 MW and
water treatment and desalination services, as well as marketing oil
products and lubricants throughout several retail fuel stations
across the country branded “TAQA” stations.
- Voltalia and Taqa Arabia pursue the development of the cluster
combining renewable energy generation with green hydrogen
production in Egypt
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