Developer ReNew Power has signed the framework agreement with the Government of Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of $8 billion. The plant is planned to have a green hydrogen production capacity of 220,000 tons per year.
The framework agreement follows the Memorandum of Understanding (MoU) signed in July, earlier this year.
This project is scheduled to be implemented in phases, beginning with a pilot phase to produce 20,000 tons of green hydrogen, along with derivatives, annually. The next phase will achieve a production capacity of 200,000 tons per year of green hydrogen, along with derivatives, bringing the project’s total green hydrogen production capacity to 220,000 tons per year.
The pilot phase project is expected to be commissioned in 2026.
“Based on the framework agreement, ReNew Power will be further undertaking project and site studies in the coming months. It is expected to make the final investment decision over the next 12–16 months,” read a ReNew statement. “Usufruct Agreements for the project are also expected to be discussed going forward, basis which land will be allocated to ReNew Power to develop the green hydrogen project.”
ReNew Power has collaborated with Elsewedy Electric S.A.E., an integrated energy solutions provider in the Middle East and Africa, to develop the project.
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