Last Updated on 05th November 2023
Egypt is expecting a pipeline of green hydrogen and green ammonia project investments worth USD 83 billion. In addition, The government has signed over 20 MoUs (Memorandum of Understanding) for green hydrogen projects as well as eight framework agreements with various producers.
Recently Egypt signed a framework agreement worth over USD 6.75 billion with Chinese developer, Energy China for building green hydrogen and green ammonia plants in the Sokhna Industrial Zone within the larger SCZONE (Suez Canal Economic Zone). Egypt is also planning to develop Jarjoub Port for green hydrogen production and exports. Belgium-developer DEME (Dredging Environmental and Marine Engineering) will invest USD 3 billion in a green hydrogen project in Jarjoub port. Apart from this German company, DAI has signed an MoU with Siemens Energy to collaborate on the production of green hydrogen from renewable power.
Since the COP 27 event, the Egyptian government has taken appropriate initiatives this year to bolster investment in the Green hydrogen sector, such as offering a tax credit of up to 55% on green hydrogen schemes in the country. Meanwhile, Egypt aims to achieve its renewable energy target as a part of its Nationally Determined Contribution (NDC) to the Paris Agreement. The country now aims to mitigate 42% of its energy demand through renewables by 2030.
The Egyptian government signed a framework agreement worth USD 6.754 billion with the Chinese Energy Engineering group. Chinese Energy Engineering Group also known as Energy China will be building green hydrogen and green ammonia plants in the Sokhna Industrial Zone within the larger Suez Canal Economic Zone (SCZONE) on an area of 500,000 square meters.
The project is reported to be Energy China’s first overseas H2 project with an annual production capacity of 210,000 tons of hydrogen per year and 1.2 million tons of ammonia per year. The construction is expected to commence in May 2024.
Recently Egypt and Belgium-based company DEME collaborated to launch a USD 3 billion green hydrogen project in the port of Jargoub. The implementation of the project will be divided into three phases. Meanwhile, DEME will also cooperate with Egyptian authorities to develop a river transportation system as well as the development of Lake Bardawil.
Egypt signed a Framework Agreement with Green methanol developer C2X to set up a USD 3 billion hydrogen-to-marine fuel plant in the Suez Canal Economic Zone. C2X backed by shipping giant Maersk will build own and operate the facility as well as the upstream operations of wind and solar farms that will power the green hydrogen production and methanol synthesis process.
The first phase is expected to produce up to 300,000 tons of green methanol per year. Once it's fully operational by 2027, the facility is expected to produce one million tons of green hydrogen annually.
The Egyptian government and Siemens recently came into an agreement to collaborate on green hydrogen and renewable energy projects in the region. The Joint venture between Egypt and Siemens is constructing three large power stations with a combined capacity of 14.4 GW boasting an impressive efficiency rate of 60.5%.
Apart from the MoU Siemens signed with the government, they have also signed an MoU with German company DAI Infrastruktur for the production of green hydrogen and green ammonia. The two companies will collaborate on engineering services during project development. Under the provisions of the MoU, Siemens will supply electrolyzers, auxiliary plant systems, and critical equipment. The project named Ra is expected to have a total production capacity of 2 million tons per annum of green ammonia. Furthermore, The plant is expected to commence its operations by 2028.
Earlier this year Abu Dhabi-based Ocior Energy signed a preliminary agreement with the Egypt government to spend USD 4 billion on a green hydrogen and ammonia project in the Suez Canal Economic Zone. Ocior plans to develop a green hydrogen facility that has a production capacity of 100,000 tonnes of hydrogen per year. Furthermore, the operations will commence by 2027.
SCZONE is a vital economic zone that aims to promote economic growth and attract foreign investment in Egypt. The zone will enhance the export of green hydrogen to Europe and Asia, Since, about 10% of global maritime trade passes through the Suez Canal. SCZONE covers a total area of 455 km which is governed by an autonomous body with regulatory powers.
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