Approves draft law to promote green energy
17 May 2023
On 17 May 2023, the Egyptian Cabinet approved a draft law to support green hydrogen projects and companies. The law provides incentives for green hydrogen projects and companies involved in its production during the project implementation period. It also make eligible expansion agreements concluded within seven years of the commercial operation of the projects. The incentives include a cash investment incentive equivalent to 33% to 55% of the tax paid on revenues generated by the project. Further, equipment and materials will be exempt from value-added tax (VAT). Finally, it waves taxes and contracts and land registration fees.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Not industry specific (SDG)
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Services (Electricity, gas, steam and air conditioning supply)
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Sources:
