Globeleq inks framework contract for 3.6-GW green H2 project in Egypt
- Africa-focused independent power manufacturer (IPP) Globeleq has authorized a framework arrangement with Egyptian authorities that paves the way for the construction of a 3.6-GW green hydrogen production hub in Egypt.
The pact was authorized at the COP27 climate summit in Sharm El Sheikh, Egypt, Globeleq stated on Monday. Its partners in the effort will certainly be the General Authority for Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt for Investment as well as Development (TSFE), the New as well as Renewable Energy Authority (NREA), as well as the Egyptian Electricity Transmission Company (EETC).
Initially revealed in August, Globeleq's strategy is to create, financing, develop, own as well as run a huge hydrogen complex within the Suez Canal Economic Zone powered by up to 9 GW of wind and solar capacity. The capacity will certainly be mounted in three phases over the following 12 years, the first among which will involve the building of a pilot electrolyser of 100 MW to produce 100,000 tonnes of green ammonia annually, mostly for export to Europe as well as Asia. Production is due to begin by 2026-2027.
Various other end-uses of the generated green hydrogen, consisting of green fuels, will be considered in the medium as well as longer term, Globeleq claimed.
Today, Globeleq has more than 1.5 GW of operational power plants in Africa and also is developing some 722 MW. An added 2 GW of projects are currently under development.