ACWA Power signs agreement to develop green hydrogen project in Egypt

The agreement was signed between ACWA Power and The Sovereign Fund of Egypt (TSFE), the Suez Canal Economic Zone (SCZone), the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA).

The framework agreement lays out the development of the first phase of a green ammonia project with a capacity of 600 000 tpy powered by wind and solar plants, with the intention of working on a larger green hydrogen project in the country which could have a capacity of up to 2 million tpy of green hydrogen.

Marco Arcelli, CEO of ACWA Power, said: "As a first mover in green hydrogen, ACWA Power is proud to bring its expertise in this new and exciting market to Egypt. We commend our partners for their bold step into producing the fuel for the future, for which there will be great demand in Europe and the rest of the world. Egypt is well-positioned to become one of the world’s top producers of green hydrogen and we are elated to be a part of the country’s energy transition."

ACWA Power has a history of developing significant renewable projects to ensure a reliable supply of clean and low-cost energy to Egypt. This latest project brings the total number of ACWA Power’s assets in operation, under construction, and in advanced development in Egypt to five – all renewable energy projects with a total power generation capacity of 1.4 GW.

The company also signed further agreements during COP28 for green hydrogen projects in Jordan and Indonesia.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/20122023/acwa-power-signs-agreement-to-develop-green-hydrogen-project-in-egypt/