Prime Minister, Mostafa Madbouly, witnesses the signing of a memorandum of understanding (MoU) to establish a plant for the production of green hydrogen with investments of $8 billion and a capacity of 220,000 tons annually in the Suez Canal Economic Zone (SCZONE).
The MoU was signed by the new and Renewable Energy Authority (NREA), SCZONE, the Egyptian Electricity Transmission Company (EETC), the Sovereign Fund of Egypt, and the second party represented by ReNew Power Private Limited, one of the leading companies in the field of renewable energy in India.
The agreement was signed, by Yehia Zaki, SCZONE’s Chairman, Ayman Soliman, the Sovereign Fund of Egypt’s CEO, Sabah Mashali, EETC’s Chairman, Mohammed El Khayat, NREA’s CEO, and Sumant Sinha, ReNew Power’s Chairman.
According to the MoU, the Indian company will set up a plant to produce green hydrogen with a capacity of 20,000 tons per year, a rate that can be increased to 220,000 tons per year, by relying on renewable energy sources, in one of the sites in the SCZONE.
The project is scheduled to be implemented in phases, the first of which is a pilot phase to produce 20,000 tons annually of green hydrogen, through a 150 MW electrolyzer equipped with 570 MW of renewable energy to produce 100,000 tons of green ammonia annually.
In the next phase, the production of 200,000 tons per year of green hydrogen will be expanded through an electrolyzer capacity of 1.5 gigawatts equipped with 5.68 gigawatts of renewable energy to produce one million tons per year of green ammonia, bringing the total capacity of the project to 220,000 tons per year of green hydrogen.