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Masdar-led consortium sign agreement to develop Suez Canal green hydrogen project

Reuters · 11/16/2022 03:14
Masdar-led consortium sign agreement to develop Suez Canal green hydrogen project

- UAE renewable energy firm Masdar and its partners Infinity Power and Hassan Allam Utilities said on Wednesday they signed a framework agreement with Egyptian state-backed organisations to develop a 2 gigawatt (GW) green hydrogen production project in the Suez Canal Economic Zone (SCZONE).

The Masdar-led consortium had signed two Memorandums of Understating in April with Egyptian entities to develop two green hydrogen production plants in Egypt, one in SCZONE and the other on the Mediterranean.

The consortium is targeting capacity of 4 GW by 2030 and output of up to 480,000 tonnes of green hydrogen a year.


(Reporting by Maha El Dahan, Editing by Louise Heavens)

((Maha.Dahan@thomsonreuters.com, @mahaeldahan;))