The consortium led by a source had signed two memoranda of understanding in April with Egyptian entities to develop two green hydrogen production plants, one in the economic zone of the Suez Canal and the other on the Mediterranean.
The consortium aims to reach four gigs by 2030 and produce up to 480,000 tons of green hydrogen annually.
According to a statement from the Egyptian Ministry of Planning, the project will be held in the Ain Sukhna region – which is within the scope of the Economic Zone Authority of the Suez Canal – and that the signing took place between the companies ’alliance on the one hand, and from the Egyptian side that included both the economic zone of the Suez Canal, the Egypt sovereign fund, and the company Egyptian to transfer and distribute electricity, and the new and renewable energy body.
The signing came on the sidelines of the Conference of the Parties to the United Nations Framework Convention on COP27, which Egypt hosted in Sharm El Sheikh during the period from 7-18 November.
The sovereign Egypt Fund, on Tuesday, signed a number of agreements and cooperation protocols with a number of developers worth $ 83 billion in the renewable energy sector..
About Author
