Suez Canal Signs 2 Agreements to Produce Green Fuel

Giving More to Your Wealth
21 Apr 2022

The Egyptian Prime Minister attended the signing of a USD3bn MoU (memorandum of understanding) between the SCZone (Suez Canal Economic Zone) and the Green Fuel Alliance to build a 350,000 ton/year green ammonia production facility. The Alliance is led by EDF Renewables, a French global renewable energy player, and includes UAE-based Zero Waste. The green ammonia will be used as bunker fuel for the Suez Canal’s traffic. The first phase of the project should commence operations in 2026, and the second phase by 2030, bringing the total production up to 740,000 tons/year. The Alliance will build 650MW of solar and wind energy generation capacity in order to power the production facility with renewable energy. A similar agreement was signed with the U.A.E.’s AMEA Power Company to establish a facility that produces 235,000 tons/year of green ammonia. Production can also be increased up to 390,000 tons/year. Trial operations will begin by the end of 2025. These projects serve as another step in the Egyptian government’s comprehensive plan to diversify its energy mix away from carbon-based fossil fuels towards renewable energy and its derivatives. (Sources: EDF Renewables (English), SC Zone (English), State Information Service (English), Reuters (English), Port Technology (English), Renewables Now (English), Zawya (English), Daily News Egypt (English), Egypt Today (English), Business Today Egypt (English), Arab News (English), al-Arabiya (English) (Arabic), Xinhua (English), Amwal al-Ghad, al-Aalam al-Youm, al-Ahram, alYoum al-Saabe, Masrawy, al-Taqa, al-Sharq al-Awsat, Sputnik)

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