Given the parlous state of Egypt’s state finances and the reality of oil majors’ ‘new energy’ investments so far failing to match the rhetoric, funding from multilateral development banks has proved key to advancing renewables projects in the country.
The massive funding requirements related to Egypt’s hugely ambitious green hydrogen/ammonia plans – $63bn and counting (MEES, 2 November) – as well as those of other developing economies will no doubt constitute a key theme of the upcoming Cop 27 summit to be hosted in November at the Egyptian Red Sea resort of Sharm el Sheik. (CONTINUED - 383 WORDS)
