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The UAE’s Masdar-led consortium has announced the signing of a framework agreement with leading Egyptian state-backed organisations to develop a 2 gigawatt (GW) green hydrogen project in the Suez Canal Economic Zone (SCZONE), a press statement from Masdar said.
The agreement follows Masdar’s historic announcement of 10GW wind project in country.
In April 2022, the Masdar-Infinity Power Holding-Hassan Allam Utilities consortium had signed two Memorandums of Understanding (MoUs) with Egyptian entities to develop two green hydrogen plants, one in SCZONE and another on the Mediterranean.
The plant in SCZONE is scheduled to be operational by 2026, the statement said.
The electrolyser facilities in the SCZONE and on the Mediterranean could be extended up to 4 GW by 2030 to produce up to 480,000 tonnes of green hydrogen, and 2.3 million tonnes of green ammonia per year for export as well as supply green hydrogen for local industries.
On the Egyptian side the agreement was signed with the SCZONE, the Egyptian New and Renewable Energy Authority (NREA), Egyptian Electricity Transmission Company (EETC), and The Sovereign Fund of Egypt (TSFE).
(Writing by Sowmya Sundar; Editing by Anoop Menon)
