The Saudi energy group ACWA Power has signed a framework agreement with Egyptian authorities for the development of the first phase of a green hydrogen project in Egypt. The first phase, worth more than US$4bn, of the hydrogen project would be powered by wind and solar parks and could produce up to 600 kt/year of green ammonia. It could later be expanded to up to 2 Mt/year. The framework agreement was signed by 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).
ACWA Power, which has about 1.4 GW of renewable power capacity under construction, and in advanced development in Egypt, is already taking part to the NEOM Green Hydrogen Project in Saudi Arabia, in partnership with Air Products and NEOM, to create an utility-scale green hydrogen plant with a capacity of 1.2 Mt/year of green ammonia in the north-west of Saudi Arabia. ACWA Power is also building a green hydrogen project in Uzbekistan, that could produce 3 kt/year of green hydrogen (with a planned expansion to produce 500 kt/year of green ammonia).