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Polish renewable energy company Hynfra is planning to build a green hydrogen plant in Egypt with total investments of nearly $10.6 billion, company executives said on Monday.
Hynfra will construct the plant with an initial output capacity of 100,000 tonnes per year at a cost of around $1.6 billion to be funded by foreign creditors, said Hussein Al-Gazzawi, a Hynfra partner in Egypt.
“Investments in this plant could reach $10.6 billion after production is increased to one million tonnes per year..all the output will be exported to the European Union which is tied with Hynfra in export agreements for many years,” Gazzawi said.
Al-Ahram news website said Gazzawi made the comments after talks on the project between Hynfra’s founder and CEO Tomoho Umeda and Hussam Haiba, CEO of Egypt’s General Authority for Investment and Free Zones.
Umeda said the Egypt project is one of 5 green hydrogen plants to be built by Hynfra worldwide, adding that the project in the Arab country will be completed in 2030.
In September 2024, Zawya Projects had reported that Jordan Green Ammonia (JGA) signed Land Use Agreements with the Aqaba Special Economic Zone Authority (ASEZA) and the Aqaba Development Corporation (ADC) for its proposed green ammonia project in partnership with Hynfra. The completion of the feasibility study was announced in the second quarter of this year.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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