UAE’s Masdar to develop 4GW green hydrogen plants in Egypt
This comes as the company signs “landmark” MoUs with Hassan Allam Utilities.
United Arab Emirates-based Masdar has signed agreements with Hassan Allam Utilities to develop green hydrogen plants in Egypt with a total capacity of 4 gigawatts (GW) by 2030.
The project, which will be located in the Suez Canal Economic Zone and on the Mediterranean coast in Egypt, is expected to produce an output of up to 480,000 tonnes of green hydrogen annually.
Masdar noted the memorandum of understanding was signed with Hassan, along with The General Authority for Suez Canal Economic Zone, New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and The Sovereign Fund of Egypt.
“In the first phase of the project, Hassan Allam Utilities and Masdar aim to establish a green hydrogen manufacturing facility, which would be operational by 2026, producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal,” Amr Allam, CEO of Hassan Allam Holding, said.
“The electrolyser facilities in the Suez Canal Economic Zone 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.”
The agreements are expected to contribute to strengthening the partnership between UAE and Egypt in renewable energy and green hydrogen.
It is also aligned with Egypt’s Vision 2030 as well as its sustainable development strategy.
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