Elsewedy Electric in partnership with ReNew power signs a framework agreement with the Government of Egypt for a green hydrogen project

Elsewedy Electric in partnership with ReNew power signs a framework agreement with the Government of Egypt for a green hydrogen project

On the sidelines of COP27, ELSEWEDY ELECTRIC, the leading integrated energy and infrastructure solutions provider in the Middle East and Africa, in partnership with ReNew Power Private Limited, a subsidiary of ReNew Energy Global Plc (“ReNew”) (Nasdaq: RNW, RNWWW), one of the leading renewable energy companies globally , have signed a Framework Agreement with the Government of Egypt to jointly develop, finance, construct, operate and maintain a green hydrogen project with its related ancillary facilities (“The Project”). The Framework Agreement is entered into with The Sovereign Fund of Egypt (“TSFE”) Infrastructure & Utilities Sub Fund, New and Renewable Energy Authority (“NREA”), Egyptian Electricity Transmission Company (“EETC”), and The General Authority for Suez Canal Economic Zone (“SC Zone”). The Project comes in line with Egypt’s National Green Hydrogen Strategy issued during COP27.

In a signing ceremony witnessed by Dr. Mohamed Shaker, Minister of Electricity and Renewable, Dr. Hala El Said, Minister of Planning and Economic Development, Dr. Rania Al Mashat, Minister of International Cooperation, Eng. Tarek El Molla, Minister of Petroleum & Mineral Resources, Mr. Ayman Mohamed Soliman, CEO, The Sovereign Fund of Egypt, and Mr. Omar Foda, Corporate Investment Director, ELSEWEDY ELECTRIC. The co-developers announced that the cooperation entails development, finance,