The Indian company ReNew Power has signed a framework agreement with the General Authority for Suez Canal Economic Zone to build a green hydrogen production plant within the Sokhna industrial zone, with estimated investments amounting to about US$8bn.
The project will be implemented in phases. The first phase will consist in an experimental phase for the production of 20,000 t/year of green hydrogen, through electrolyses with a capacity of 150 MW equipped with 570 MW of renewable energy, to produce 100,000 t/year of green ammonia. In the next phase, the project will be expanded to produce 200,000 t/year of green hydrogen through an electrolyser capacity of 1.5 GW equipped with 5.68 GW of renewable energy to produce 1 Mt/year of green ammonia, bringing the total capacity of the project to 220,000 t/year of green hydrogen.
Since a few years, Egypt aims to become an energy hub, with a focus on green hydrogen. In April 2022, Masdar and Hassan Allam Utilities signed agreements with several companies to set up an electrolyser capacity of 4 GW by 2030, with an output of up to 480 kt/year of green hydrogen. In August 2022, Egypt signed a deal with Globeleq to build a plant within the Suez Canal Economic Zone (totalling 3.6 GW of electrolysers and around 9 GW of solar PV and wind power generation) and in September 2022, FFI, an affiliate of the Australian iron ore company Fortescue Metals Group (FMG), signed an MoU with the government to conduct studies in order to develop a green hydrogen project with a 9.2 GW capacity from solar and wind. In May 2023, it announced that it would set up incentives to support the production of green hydrogen in the country.