News flash
- The General Authority for Investment and Freezones is pitching a USD 17 bn investment to build what it says will be the world’s largest green hydrogen plant in South Sinai, Alrabiya News reports citing a government document.
The facility, to be developed in partnership with the Military Production Ministry, would produce up to 400k tons of green hydrogen annually. The plant will be powered by a hybrid 3.1GW solar plant plus a pumped hydro storage facility. The first phase is set for completion in 2030, with additional phases rolling out in 2033 and 2035.
In other news, Scatec ASA’s Egypt Green Hydrogen project recently signed an agreement with the PtX Development Fund for a grant of EUR 30 million for partial financing of the project which will have a total capex of approximately EUR 500 million.
The PtX Development Fund is established by the German Federal Ministry for Economic Cooperation and Development and KfW, and managed by KGAL, with the aim to support Power-to-X projects in developing and emerging countries. This is the first grant approved by the fund.
Read more on hydrogen projects in Egypt HERE
Author: Bryan Groenendaal
