At COP28: SCATEC signs $1.1 bn deal on green fuelling station for ships in Suez

At COP28: SCATEC signs $1.1 bn deal on green fuelling station for ships in Suez

SCATEC is already a partner in Egypt’s only pilot green hydrogen project in Ain Sokhna.

The post At COP28: SCATEC signs $1.1 bn deal on green fuelling station for ships in Suez first appeared on Mada Masr.Norwegian renewables firm, SCATEC, has signed on to new green hydrogen and renewables projects in Egypt worth US$1.1 billion, deepening its commitment to Egypt’s potential future as a green fuel producer.

SCATEC signed the deal on Sunday at the ongoing UN Climate Change Conference, COP28, in Dubai.

The Norwegian company is already a partner in Egypt’s only pilot green hydrogen project in Ain Sokhna, the only project moving forward in the country despite committing billions of dollars to green hydrogen in Egypt.

The fuel — produced by renewable energy and considered a viable green alternative fuel for heavy industry — has been earmarked as a promising replacement for natural gas, which powers much of Europe. Green hydrogen can also be used as heavy duty fuel for ships, for example, as well as to fuel the production of green fertilizers or heavy metals.

SCATEC’s new agreement, signed over the weekend in Dubai with the Suez Canal Economic Zone, includes a $1.1 billion investment in East Port Said to finance a