The Arab African Council on Socioeconomic Development revealed that it has entered a JV with Diplomatic Trade Ltd. in support of regional commercial aspirations of the parties related to hydrogen and renewable energy projects.

AACSED Chairman Mohamed Zayed and Executive Council Member Benjamin Ballout – also the Chairman of Diplomatic Trade, a New York based intergovernmental and commercial lobby firm - issued an official statement announcing the news that their entities have invited Siemens Gamesa into the concept of support for new hydrogen/renewable energy policies in the Gulf MENA Region.

Technical, financial and logistic value – including any investment funds will be the responsibility of Diplomatic Trade Ltd., and/or any of the committee members Siemens Gamesa was invited as Original Equipment Manufacturer (OEM) provider, and EPC contractor partner for the potential projects. 

"While no final contracts have been signed, our initial proposal has been accepted in principle according to our liaison, Dr. Hanan Taher, in the Gulf MENA Region, with respect to Egypt, and we look forward to expanding on this excellent news, from her office – moving forward, at the most rapid pace, in support of all stakeholders - As matters progress, we will inform the public, with expanded press and media coverage," said Zayed and Ballout in the statement. "The value of the hydrogen program(s) and solar driven electrolysis technologies, exceed several billion USD over the course of five years and Diplomatic Trade Ltd. is fully able to bring the required funds and investment where needed, under the proper conditions and against normal offtake agreements with the end user governments and/or companies – and Siemens Gamesa (who is already active in the region independently) is our best selection, for the highest quality technology, to realize our success together, under the assumption, of a conducive environment, legislatively,  supportive of the metrics and investment  parameters needed, as well as access and permissions needed – (approvals and otherwise)."