Globeleq Signs Framework Agreement for 3.6GW Green Hydrogen Production at Suez Canal Economic Zone

  • Globeleq has signed a Framework Agreement with the General Authority for Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt for Investment and Development (TSFE), the New and Renewable Energy Authority (NREA), and the Egyptian Electricity Transmission Company (EETC), to jointly develop a large-scale green hydrogen facility within the Suez Canal Economic Zone.

The signing ceremony took place at the 27th Conference of the Parties (COP27) in Sharm El Sheikh in the presence of Dr. Mohamed Shaker El-Markabi (Minister of Electricity and Renewable Energy), Dr. Hala H. Elsaid (Minister of Planning and Economic Development), Dr. Rania Al Mashat (Minister of International Cooperation) and Eng. Tarek El Molla (Minister of Petroleum and Mineral Resources), as well as the British Ambassador to the Arab Republic of Egypt, H.E. Gareth Bayley, OBE.

Globeleq, as lead developer and investor, will develop, finance, build, own and operate the green hydrogen project. Over the next 12 years, it will be developed in three phases, totalling 3.6 GW of electrolysers powered by up to 9 GW of solar PV and wind energy. The first phase will involve a pilot project which will produce 100,000 tons p.a. of green ammonia from hydrogen, mainly targeting exports to Europe and Asia for use in fertilisers and is expected to start operations by 2026-27. Other potential end-uses of green hydrogen, including green fuels, will be considered in the medium and longer term, once they become commercially feasible.

Related news: Masdar and partners to develop 2GW green hydrogen facility in the Suez Canal Special Economic Zone

Egypt’s unique geographical location, at the crossroads of Africa, Europe, and Asia and with about 13% of global trade flowing through the Suez Canal, puts the country in a strategic position to become a global green energy hub.

Author: Bryan Groenendaal

Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.