Government signs MoU with French-Egyptian alliance to produce green ammonia

Government signs MoU with French-Egyptian alliance to produce green ammonia

The government signed a memorandum of understanding (MoU) with the Green Fuel Alliance, France’s EDF Renewables, and Egypt’s Zero Waste on Wednesday with an offer to establish a project to produce green ammonia to supply ships with green fuel.

Sources told Daily News Egypt (DNE) that the MoU includes the implementation of the project in phases, the first of which will be executed with investments amounting to $1bn and a project capacity of 350 tonnes per day.

The sources added that the alliance has concluded preliminary agreements with three international banking institutions to finance the project, which will be implemented in Egypt. An implementation agreement for the MoU will be signed this year, before the upcoming Conference of Parties on Climate Change (COP 27) that will be held in Sharm El-Sheikh this November.

They also indicated that the alliance is interested in cooperating with the Sovereign Fund of Egypt to implement the green ammonia production project, which is similar to a project being implemented by the Scatec Alliance.

Furthermore, the government plans to expand renewable energy projects and produce green hydrogen and ammonia as part of its plan to reduce emissions and preserve the environment.

Earlier, the government signed an agreement to establish an electrolyser