Globeleq and Government of Egypt partner to develop a large-scale green hydrogen project

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

The green hydrogen project will be developed, financed, constructed, owned, and operated by Globeleq. With 3.6 GW of electrolysers and about 9 GW of solar PV and wind power generation, it will be built out in three phases. Green ammonia fertilisers will be the primary use of green hydrogen in the first phase of the project, which will comprise a pilot project using a 100 MW electrolyser. In the medium- and long-term, green fuels will also be taken into consideration. Reportedly, Globeleq intends to enter into long-term off-take agreements with leading and creditworthy Egyptian and international companies, while supporting their decarbonisation plans.

Globeleq has been investing in Egypt since 2003 and currently owns the ARC for Renewable Energy S.A.E. 66 MWp solar PV plant located at the Benban Solar Park near Aswan. 

 

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