- Both companies have received Egypt’s support to deploy green hydrogen hubs on the Red Sea.
Abu Dhabi’s renewable energy firm Masdar and its Cairo-based partner, Hassan Allam Utilities, have secured Egypt’s support to construct green hydrogen hubs on the Red Sea and the Mediterranean coasts of the country. Both companies target up to 4GW of electrolysers by 2030.
According to a report by Renewables Now, the partners signed two memoranda of understanding (MoUs) with the New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), The Sovereign Fund of Egypt, and The General Authority for Suez Canal Economic Zone (SCZONE) to cooperate on the project development, Masdar announced on Sunday.
Masdar and Hassan Allam Utilities expect to develop the project in stages. They plan to build a green hydrogen production plant to produce 100,000 tonnes of e-methanol per year for bunkering in the Suez Canal in the first phase. That plant would be operational by 2026. In the following stages, the electrolysis capacity in the Suez Canal Economic Zone and the Mediterranean could be expanded to up to 4GW by 2030 to produce 2.3 million tonnes of green ammonia for exports and supply green hydrogen to local industries.
According to Masdar, the latest agreements come as the government of Egypt prepares to revise its 2030 renewable energy strategy to include green hydrogen. The nation’s green hydrogen strategy is currently in development and is expected to be released by October 2022.