Siemens Energy looking for H2 investment opportunities in Egypt
Siemens Energy's Dietmar Siersdorfer meets Egypt's Minister of Petroleum and Mineral Resources Tarek El Molla to discuss green energy investments. Image by Egypt's Ministry of Petroleum and Mineral Resources.
March 18 (Renewables Now) - Siemens Energy AG (ETR:ENR) is interested in expanding its operations and investments in the Middle East in various energy fields, and in hydrogen production in particular, said Dietmar Siersdorfer, Middle East and UAE Managing Director at the German company.
After a slowdown in investments during the coronavirus pandemic, Siemens Energy is now looking for opportunities to invest in hydrogen in Egypt and wants to strengthen its constructive cooperation with the state, Siersdorfer said at a meeting with Egypt's minister of petroleum and mineral resources Tarek El-Molla on Thursday. During the meeting, Siersdorfer and the minister discussed various topics in the area of natural gas and green energy and Egypt's preparations to host the COP 27 Summit this year.
During the talk, El-Molla noted that the renewable energy industry and market are still emerging and stressed the role of Egypt as a regional energy centre in the eastern Mediterranean region and the opportunities that its geographical location gives during the energy transition.
Siemens Energy is already involved in the ambitious plan of the North African country to develop a green hydrogen industry. Last August, the German company agreed with the Egyptian Electricity Holding Company (EEHC) to jointly explore opportunities for hydrogen production and export in the country. The partnership includes a project for the installation of between 100 MW and 200 MW of electrolyser capacity.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.