- Masdar, Allan to generate green hydrogen in Egypt.
- Both companies have received approvals from the Egypt authorities.
The Egyptian government has signed a series of agreements with renewable energy producers Masdar and Hassan Allam Utilities to generate green hydrogen in the country’s Suez Canal Economic Zone.
The agreements were recently signed with the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Wealth Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA).
Masdar will implement its project in partnership with Hassan Allam Utilities, the Cairo-based subsidiary of Hassan Allam Group. The two companies plan to set up facilities in the Suez Canal Economic Zone to convert 4GW of clean electricity into green hydrogen via electrolysis. This process consists of the transformation of electrical energy into chemical energy.
Masdar noted that the choice of Egypt for its investments in green hydrogen primarily related to the potential of the North African country in terms of renewable energies, especially solar and wind.