UAE's Masdar, Hassan Allam Utilities, and Infinity Power have signed framework agreement with leading Egyptian state-backed organizations on the development of a 2 gigawatt green hydrogen project in the Suez Canal Economic Zone. The consortium is targeting an electrolyzer capacity of 4 gigawatts by 2030, and an output of up to 480,000 tonnes of green hydrogen per year.As per the agreement, the consortium will enter into a binding framework agreement with the SCZONE, the Egyptian New and Renewable Energy Authority, Egyptian Electricity Transmission Company and The Sovereign Fund of Egypt. The agreement sets out the key terms and conditions for the green hydrogen development program with a focus on the first phase of the program.In the first phase of the project, the consortium will establish a green hydrogen manufacturing facility in the SCZONE, scheduled to begin operations by 2026. The electrolyzer facilities in the SCZONE and on the Mediterranean could be extended to up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for local industries.Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a highly competitive cost, a key enabler for green hydrogen production and is located within proximity to markets where demand for green hydrogen is expected to grow the most, providing a robust opportunity for export.
UAE's Masdar, Hassan Allam Utilities, and Infinity Power have signed framework agreement with leading Egyptian state-backed organizations on the development of a 2 gigawatt green hydrogen project in the Suez Canal Economic Zone. The consortium is targeting an electrolyzer capacity of 4 gigawatts by 2030, and an output of up to 480,000 tonnes of green hydrogen per year.As per the agreement, the consortium will enter into a binding framework agreement with the SCZONE, the Egyptian New and Renewable Energy Authority, Egyptian Electricity Transmission Company and The Sovereign Fund of Egypt. The agreement sets out the key terms and conditions for the green hydrogen development program with a focus on the first phase of the program.In the first phase of the project, the consortium will establish a green hydrogen manufacturing facility in the SCZONE, scheduled to begin operations by 2026. The electrolyzer facilities in the SCZONE and on the Mediterranean could be extended to up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for local industries.Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a highly competitive cost, a key enabler for green hydrogen production and is located within proximity to markets where demand for green hydrogen is expected to grow the most, providing a robust opportunity for export.
