- Sterlite Power will invest $5-6 billion in Egypt to build an electricity grid for green hydrogen projects, supporting renewable energy growth.
- Egypt is attracting foreign investment to strengthen its power infrastructure and accelerate its clean energy transition.
Sterlite Power plans to invest $5-6 billion in Egypt to build a dedicated electricity grid for green hydrogen projects. This investment will support Egypt’s efforts to expand its renewable energy sector and strengthen its electricity infrastructure.
During an official visit to India, Egypt’s Minister of Investment and Foreign Trade, Hassan El Khatib, met with Tushar Chhabra, Head of Business Acquisition at Sterlite Power. They discussed potential collaboration to improve Egypt’s power transmission network and accelerate its transition to clean energy.
El Khatib explained that Sterlite Power’s interest reflects growing investor confidence in Egypt’s renewable energy market. He highlighted that the proposed project would enhance the electricity grid, attract foreign investment, and create new job opportunities. Additionally, he emphasised that strengthening the power sector is crucial to Egypt’s long-term sustainability goals.
Chhabra stated that Sterlite Power views Egypt as an essential market for expanding its renewable energy investments, particularly in green hydrogen. He noted that the company brings global expertise in developing power transmission networks and will introduce advanced technologies to ensure the project’s efficiency and sustainability.
In addition, Egypt has actively engaged with international investors to grow its green energy sector. For example, in December 2022, OCIOR Energy signed a $4.2 billion agreement with the Egyptian government to develop a green ammonia production project in the Suez Canal Economic Zone. This initiative aims to support Egypt’s clean energy goals and bolster its global renewable energy market position.
With these increasing international partnerships, Egypt positions itself as a regional leader in renewable energy development. The government leverages foreign investment to stimulate economic growth and promote a cleaner, more sustainable future.
As Egypt advances its clean energy transition, it attracts significant investments from companies like Sterlite Power. This will ensure a reliable power supply for future green hydrogen projects while supporting its broader energy goals.