COP 21 WRAP: Globeleq signs framework agreement for green hydrogen plant in Egypt

COP 21 WRAP: Globeleq signs framework agreement for green hydrogen plant in Egypt

Africa-focussed independent power company Globeleq announced on Monday that has signed a Framework Agreement with Egyptian state entities to jointly develop a large-scale green hydrogen facility within the Suez Canal Economic Zone (SCZONE).

The agreement was signed with the General Authority for Suez Canal Economic Zone (SCZONE), The Sovereign Fund of Egypt (TSFE), the New and Renewable Energy Authority (NREA), and the Egyptian Electricity Transmission Company (EETC), the UK-headquartered company said in a press statement.

The Memorandum of Understanding was signed in August 2022.

Globeleq, as lead developer and investor, will develop, finance, build, own and operate the green hydrogen project in three phases over 12 years, the statement said.

It said the project will have electrolsyers totalling 3.6 gigawatts (GW) powered by up to 9 GW of solar photovoltiac and wind energy.

Phase 1, which is expected to start operations by 2026-27, will be a pilot project, which will produce 100,000 tonnes per annum of green ammonia from hydrogen for export to Europe and Asia for use in the fertiliser industry.

Other potential end-uses of green hydrogen, including green fuels, will be considered in the medium and longer term, once they become commercially feasible, the statement said.

Globeleq has assets generating more than 1.5 GW in