Beginning in the first quarter of 2027, Fortescue Future Industries expects to begin generating green hydrogen in Egypt, with an anticipated 25 percent share of the Egyptian government market

Moataz Kandil, FFI's president for the Middle East and North Africa, recently disclosed that talks are underway with the General Authority for the Suez Canal Economic Zone (SCZone) to secure exclusive territories for the company's upcoming green hydrogen project in Egypt.

In an interview with Daily News Egypt, Kandil elaborated on the project's green hydrogen production goals, saying that 7,600 MW of renewable energy stations would be built as part of the plan.

Also, he clarified that the Egyptian government's cut is still being worked out, but that it won't be more than 25%.

In order to study and develop a massive project for the production of green hydrogen and renewable energy in Egypt, the company signed an agreement with the Egyptian government represented by the New and Renewable Energy Authority (NREA), the SCZone, the Egyptian Electricity Transmission Company (EETC), and the Sovereign Fund of Egypt for Investment and Development.

Egypt's standing as a regional centre for clean energy is bolstered, according to Kandil, as the company intends to export production to the European market, especially Germany, where Fortescue already has an agreement to sell an estimated quantity of five million tonnes yearly by 2030.

According to Kandil, Egypt's proximity to the European market is a strategic advantage that makes it one of the world's leading energy exporters. In addition, the firm is concentrating on renewable energy projects to supply the growing domestic market and then expand into international sales.

He mentioned that the company has already signed a contract for a project in Jordan, which is currently being studied, and that it intends to expand into other markets including the Sultanate of Oman, the United Arab Emirates, Saudi Arabia, and Morocco in the near future.

If you ask Kandil, the most difficult part is the price of producing green hydrogen. The price of renewable energy utilised in green hydrogen production has dropped over the past decade, but the price of manufacturing one kilogramme of green hydrogen still ranges between $3.5 to $5.

As green hydrogen's use spreads and its demand as a fuel and renewable energy source increases, he predicted that the price will fall to $1.5-2 per kilogramme by 2026–2027.