Masdar-led consortium strengthens partnership to advance landmark 4 GW green hydrogen program in Egypt

Masdar-led consortium strengthens partnership to advance landmark 4 GW green hydrogen program in Egypt

ABU DHABI, 16th November, 2022 (WAM) – Masdar, the UAE’s flagship clean energy company, and its consortium partners, Infinity Power Holding and Hassan Allam Utilities, announced that they have signed a framework agreement with leading Egyptian state-backed organizations on the development of a 2 gigawatt (GW) green hydrogen project in the Suez Canal Economic Zone (SCZONE).

The Masdar-led consortium signed two Memorandums of Understanding (MoUs) in April with Egyptian entities, related to the development of two green hydrogen production plants in the country, one in the SCZONE and the other on the Mediterranean. The consortium is targeting an electrolyzer capacity of 4 gigawatts (GW) by 2030, and an output of up to 480,000 tonnes of green hydrogen per year.

Yesterday’s agreement was signed on the sidelines of the 2022 United Nations Climate Change Conference (COP27) in the presence of Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate, and Chairman of Masdar, Dr Mohamed Shaker El-Markabi, Egypt’s Minister of Electricity and Renewable Energy and Hala Al-Said, Egypt’s Minister of Planning and Economic Development. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, and Mariam Al Kaabi, UAE Ambassador to Egypt were also present.

The signatories