The start of 2022 has seen Cairo sign a flurry of deals with major energy firms to potentially build world-beating green hydrogen and green ammonia capacity, mainly based at the Red Sea port of Ain Sukhna, located within the Suez Canal Economic Zone (SCZone).
The latest deals announced on 24 and 20 April respectively are with UAE firms Masdar and Amea. Masdar, the renewables arm of UAE state investment firm Mubadala will partner-up with local Egyptian firm Hassan Allam Utilities. Masdar and Hassan Allam are “targeting an electrolyzer capacity of 4GW by 2030, and output of up to 480,000 tons of green hydrogen per year,” a Masdar statement says. (CONTINUED - 1067 WORDS)