Egypt and France Forge Green Hydrogen Future with €7 Billion Deal

Egypt and France have concluded a significant €7 billion agreement to advance the development, financing, and operation of a green hydrogen production facility. This initiative was formalized during French President Emmanuel Macron's visit to Egypt, exemplifying a robust collaboration in renewable energy.

In a significant move for renewable energy, Egypt and France have signed a €7 billion ($7.68 billion) agreement to initiate and manage a green hydrogen production facility. The deal underscores a major step toward clean energy development between the two nations.

Announced by Egypt's transportation ministry, the agreement was finalized during the visit of French President Emmanuel Macron, marking a milestone in France-Egypt collaborations centered around sustainable energy solutions.

The current exchange rate pegs $1 at 0.9110 euros, and this landmark joint venture is expected to bolster bilateral trade and energy innovation, aligning with global ecological goals.

(With inputs from agencies.)