News

Egypt Signs Agreement to Deploy a 1,000MW Green Hydrogen Project

mm
Egypt Signs Agreement to Deploy a 1,000MW Green Hydrogen Project

Cairo Egypt Pictures | Download Free Images on Unsplash
Cairo | Photo credit: Sherif Moharram

The Egyptian government has signed a Framework Agreement with UAE-based renewable energy firm AMEA Power to develop a 1,000 megawatt green hydrogen project in order to foster the production of green ammonia in export markets.

“The world is entering a new era of clean energy deployment, where emerging solutions like green hydrogen will present huge opportunities for investment,” said Hussain AlNowais, Chairman of AMEA Power.

The project, which will be situated in the coastal town of Ain Sokhna, fortifies Egypt’s long term vision to become a hub for green hydrogen production. It is projected to produce 800,000 tonnes of green ammonia per year for domestic use and international export, and remains aligned with the Integrated Sustainable Energy Strategy (ISES) set out by the Egyptian government.

The ISES aims to not only reduce energy consumption by 18 percent by 2035, but ensure that 42 percent of the total electricity generated by 2035 is renewable.

Several of Egypt’s governmental arms are partaking in the project, including the Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission, the New and Renewable Energy Authority, and the Suez Canal Economic Zone.

“This great success marks a major milestone for Egypt’s green strategy and was only possible with the persistence of all government sponsors and the partners’ belief in the potential of Egypt as a green hydrogen hub,” explained Ayman Soliman, Chief Executive Officer of the Sovereign Fund of Egypt. “The signing of this binding agreement is a testament to TSFE’s ability to execute on its role in attracting private investment into strategic sectors.”

Free Visas to Egypt for Holders of the World Cup Hayya Card
US Opens Investigation into Killing of Al Jazeera Journalist Shireen Abu Akleh

Subscribe to our newsletter


News
mm

With a heart for radio and an appetite for culture, Mona is a writer and illustrator based in Cairo. At the Erasmus University Rotterdam, she obtained a BSc and MA in Media, Culture, and Society, while actively writing for the faculty magazine. After graduating, Mona was an academic advisor at the American University in Cairo, as well as Managing Director of a small, campus-based advertising firm. Gears shifting, her knack for cultural research took over - enter: Egyptian Streets. Mona’s focus is tapered to issues of identity politics, culture, and social architecture.

More in News

Egypt to Develop 21 Desalination Plants in First Phase of Multibillion-Dollar Green Programme

Mona Abdou2 December 2022

Festivals Associated with the Journey of the Holy Family Now UNESCO Heritage

Mona Abdou1 December 2022

‘The Palestinian Cause Will Always Remain the Number One Arab Issue’: Sameh Shoukry

Marina Makary30 November 2022

Turkey, Egypt to Resume Diplomatic Relations and Hold Ministerial Meetings

Egyptian Streets29 November 2022

Egyptian Actress Menna Shalaby Released on Bail Over Suspected Drug Use

Egyptian Streets26 November 2022

Rainbow Colours Now Allowed at Qatar World Cup for Welsh Fans

Mona Abdou25 November 2022

Egypt Invited to Participate in Intergovernmental G20 Summit

Mona Abdou25 November 2022

Egyptian Parliament Health Committee Members to Donate Organs After Death

Egyptian Streets24 November 2022