- Total Eren signs a green hydrogen deal in the Gulf of Suez.
Total Eren, a subsidiary of the oil company TotalEnergies has signed an agreement with Enara Capital to implement an experimental project for the production of green hydrogen in the Gulf of Suez. Both companies are receiving support from 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).
According to SCZone, the project comprises setting up facilities capable of producing 30,000 tonnes of green hydrogen per year. This capacity is much lower than those negotiated by other companies, notably the French company EDF Renouvelables, which plans to produce 350,000 tonnes per year, or the UAE company Masdar, hoping to generate 480,000 tonnes per year by 2030.
However, Sczone notes that Total Eren’s capacity is expected to rise to 1.5 million tonnes per year. “The Egyptian state is working diligently to support the transformation to a green economy based on clean energy, especially by providing facilities and incentives to attract green investments and exploit green financing opportunities,” according to the Egyptian government.