By:Solarquarter

Indian power transmission company Sterlite Power has proposed a $5-6 billion investment to establish a dedicated electricity grid for green hydrogen projects in Egypt, reinforcing the country’s efforts to expand its renewable energy sector.

The proposal was discussed during a meeting between Egypt’s Minister of Investment and Foreign Trade, Hassan El Khatib, and Tushar Chhabra, Head of Business Acquisition at Sterlite Power, during the minister’s official visit to India. The discussions focused on potential collaboration to enhance Egypt’s power transmission infrastructure and accelerate its transition towards clean energy.

El Khatib emphasized that Sterlite Power’s interest reflects growing investor confidence in Egypt’s renewable energy market. He highlighted that the proposed project would strengthen the country’s electricity grid, attract further foreign investment, and create new job opportunities, supporting Egypt’s long-term sustainability goals.

Chhabra stated that Sterlite Power sees Egypt as a key market for expanding its renewable energy investments, particularly in green hydrogen. He added that the company, which has global expertise in developing power transmission networks, aims to introduce advanced technologies to ensure the project’s efficiency and sustainability.

Egypt has been actively engaging with global investors to expand its green energy sector. In December 2022, OCIOR Energy signed a Memorandum of Understanding (MoU) with the Egyptian government to invest approximately $4.2 billion in a green ammonia production project within the Suez Canal Economic Zone.

With increasing international partnerships, Egypt continues to position itself as a regional leader in renewable energy development, leveraging foreign investment to drive economic growth and support its clean energy transition.