Masdar to develop 4 GW green hydrogen plants in Egypt by 2030
- The electrolyser facilities in the Suez Canal Economic Zone and also on the Mediterranean could be encompassed up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia.
Both Masdar as well as Hassan Allam Utilities see Egypt as a hub for green hydrogen manufacturing, targeting the bunkering market, export to Europe, and also boosting neighborhood market.
UAE based renewable energy major Masdar and also Hassan Allam Utilities, the investment and also development arm of Hassan Allam Holding Group, have actually authorized 2 MoUs with Egypt for the development of green hydrogen manufacturing plants in the Suez Canal Economic Zone and on the Mediterranean coastline.
The green gas production projects will certainly be inside Sokhna zone as SCZONE has an unique place and essential ports overlooking the Red as well as the Mediterranean Sea.
" These agreements stand for a vital step forward in the development of the green hydrogen economic climate for both the UAE and Egypt, as well as will certainly play a considerable duty in our 2 nations' decarbonization initiatives. By dealing with partners such as Hassan Allam Utilities, we can aid the green hydrogen market attain its full potential over the coming years and also play its part in sustaining the international energy shift," stated Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
Amr Allam, Ceo of Hassan Allam Holding, stated, "Our drive into the green power as well as infrastructure space, including solar and also wind power generation, was all about adding to a much more lasting future. With this collaboration with Masdar we are aiming to harness the leading edge of technology to make a distinction in Egypt by leveraging the country's abundant sources of green energy.
He claimed that in the initial phase of the project, Hassan Allam Utilities and also Masdar aim to establish a green hydrogen production facility, which would certainly be operational by 2026, generating 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal.
The electrolyser facilities in the Suez Canal Economic Zone as well as on the Mediterranean could be included approximately 4 GW by 2030 to create 2.3 million tonnes of green ammonia for export in addition to supply green hydrogen for regional industries. Both Masdar and Hassan Allam Utilities see Egypt as a center for green hydrogen production, targeting the bunkering market, export to Europe, as well as boosting local sector.
Egyptian Prime Minister Mostafa Kamal Madbouly shared his happiness at this signing and also stated that the state is functioning to encourage financial investment in green energy projects, as a result of Egypt's prospective to become a crucial essential and also local center in this vital sector.
Sultan bin Ahmed Al Jaber, Chairman of Masdar, said, "These projects will certainly build on the UAE's as well as Masdar's position as a very early mover in the international hydrogen market and also expand our capacity to deliver zero carbon energy remedies. As our 2 countries prepare to organize the following 2 COPs, we expect collaborating with our companions in Egypt to make sensible advancements in the power transition that will certainly provide substantial advantages for the economic climate and also the climate."
Dr Hala El Said, Minister of Planning and also Economic Development, emphasized that Egypt has abundant solar and wind energy resources that would certainly give an appropriate location for renewable energy projects at a competitive expense. Along with its distance to international markets that are seeking to import green hydrogen, this will enable substantial development for this industry in the future, and the arrangements are in line with "Egypt Vision 2030."
As per the official statement of Masdar, Egypt is also located within close distance to markets where need for green hydrogen is anticipated to grow one of the most, providing robust possibility for export. Driven by green hydrogen's export potential, its ability to bring in large-scale international direct financial investment and also opportunities to add to Egypt's efforts to maximize generation expenses and also boost the share of renewables in the nation's energy mix to 42 percent by 2030, the nation is presently changing its 2030 renewable resource approach to include green hydrogen. Its green hydrogen method is anticipated to be issued by October 2022.