ACWA Power to develop US$4 billion green hydrogen project in Egypt

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  • ACWA Power has signed the framework agreement, following the MoU that was signed in 7th of December 2022 to outline the development of the first phase of the green hydrogen project in Egypt with a capacity of 600,000 tonnes-per-year of green ammonia, with an investment in excess of USD 4bn, with the intention of scaling up to a second phase with a potential capacity of 2 million tonnes-per-year

The agreement was signed between ACWA Power and 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).

The framework agreement lays out the development of the first phase of a green ammonia project with a capacity of 600,000 tonnes-per-year powered by wind and solar plants, with the intention of working on a larger green hydrogen project in the country which could have a capacity of up to two million-tonnes-per-year of green hydrogen.

Author: Bryan Groenendaal

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