28 Jul 2022
The Egyptian Prime Minister and the Indian Ambassador to Egypt witnessed the signing of an MoU (Memorandum of Understanding) between Egyptian authorities and Indian ReNew Power to build a green hydrogen industrial complex in the SC Zone (Suez Canal Economic Zone). The project will involve total investments of USD8bn and is slated to produce 220,000 tons/year of green hydrogen.
The project will be implemented over two phases. The first phase will cost USD0.7bn to build over the years 2023-25 and targets the production of 20,000 tons/year of green hydrogen and 100,000 tons/year of green ammonia. The second, bigger phase will cost USD7.1bn and will be built over the years 2025-29, targeting the production of an additional 200,000 tons/year of green hydrogen and 1mn tons/year of green ammonia. This will bring the total production of the facility to 220,000 tons/year of green hydrogen and 1.1mn tons/year of green ammonia by the year 2029.
It is worthy to note that the SC Zone has signed 8 MoUs so far in the field of green fuel with global leaders such as the Danish Maersk, Norwegian Scatec, French EDF Renewables, and German H2. Egypt is also hosting the next global climate conference, COP 27, in November 2022 in the city of Sharm el-Sheikh. All this comes as part of Egypt’s accelerated green transition and environmentally responsible policy direction. (Sources: SC Zone (English) (Arabic), Reuters (English), Egypt Today (English), Sada el-Balad (English) (Arabic), al-Maal, Hapi Journal, al-Ahram, al-Youm al-Saabe, al-Masry al-Youm, al-Dustour, Akhbar al-Youm, Middle East News Agency, al-Sharq Business, al-Arabiya, Sky News Arabia, al-Ain, Xinhua, Sputnik, RT)