Masdar signs agreements to develop 4 GW Green hydrogen plants in Egypt

Masdar signs agreements to develop 4 GW Green hydrogen plants in Egypt

Masdar, one of the world’s leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, announced that they have signed two Memorandums of Understanding with leading Egyptian state-backed organizations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast.

The Memorandums of Understanding were signed in the presence of Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy for Egypt, and Dr Hala El Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt.

Amr Allam and Hassan Allam, Co- Chief Executive Officers of Hassan Allam Holding, were also in attendance, along with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. The Egyptian organizations concerned include the New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, The Sovereign Fund of Egypt, and The General Authority for Suez Canal Economic Zone.

Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, expressed his