Saudi’s ACWA Power expects to complete the technical studies for its multi-billion-dollar green hydrogen project in Egypt in early 2025, the company’s local manager was quoted on Thursday as saying.

The company inked a framework agreement for the project’s first phase on Wednesday.

ACWA Power Egypt regional manager Hassan Amin told the Arabic language daily Addustour that technical studies, which will commence this year, is expected to be completed in the first quarter of 2025.

“…we also expect the project to be financially close during that period,” he said, adding that funding for an associated 1,100-megatt (MW) wind power project will be secured in mid-2024.

Read more: Saudi's ACWA Power to develop 1.1GW wind farm in Egypt

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.