Developer ReNew Power has signed an agreement with the Egyptian Government to establish a green hydrogen plant in the Suez Canal Economic Zone. The $8 billion project will produce 220,000 tons of green hydrogen per year.
The nation maintained the highest score of 62.7 for solar in the latest edition of Ernst & Young’s renewables attractiveness index. It ranked third for overall renewable energy investment.
The Indian multinational player, which has a solar engineering, procurement and construction portfolio of more than 10.6 GWp globally, says the latest addition will be among Egypt’s largest PV projects.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
The University of Birmingham is a research partner on the Solar Cooling Initiative of International Solar Alliance that aims to spread the use of solar and solar-hybrid energy in agriculture.
The region’s climate, developing economies and demographic growth are driving increased electricity demand in the Middle East and North Africa. However, as a hub of conventional energy supply, the region has been slow to embrace PV. To capture more of the value chain and deliver the full potential of solar, there are increasing calls for distributed generation deployment to play a bigger role.
The fate of the clutch of 500 MW-plus projects due to break ground this year could determine whether such ambitious schemes have a viable future, says Wood Mackenzie in its solar 2019 forecast. And the Indian market should brace for consolidation, add the analysts, because of aggressive reverse-auction tariff pricing.
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