Signed between Masdar and Hassan Allam Utilities, the two companies will aim to install electrolyser 4GW by 2030 which will also have an annual output of up to 480,000 tonnes of green hydrogen.
The new plants which will be situated within the Suez Canal Economic Zone will strengthen hydrogen production in Egypt and also provide export opportunities within the Mediterranean coast.
In doing so, this could support Europe’s hydrogen goals.
With Egypt’s renewable energy potential, the country could become a powerhouse for global green hydrogen production and thus could support the globe in scaling the hydrogen industry.
Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change and Chairman of Masdar, said, “Today’s partnership agreements to explore the development of green hydrogen production demonstrates the strength of the close relationship between The United Arab Emirates and the Arab Republic of Egypt.
“These projects will build on the UAE’s and Masdar’s position as an early mover in the global hydrogen market and expand our capacity to deliver zero carbon energy solutions.
“As our two countries prepare to host the next two COPs, we look forward to working with our partners in Egypt to make practical advances in the energy transition that will provide significant benefits for the economy and the climate.”
Mohamed Jameel Al Ramahi, CEO of Masdar, said, “These agreements represent a vital step forward in the development of the green hydrogen economy for both the UAE and Egypt, and will play a significant role in our two nations’ decarbonisation efforts.
“By working with partners such as Hassan Allam Utilities, we can help the green hydrogen market achieve its full potential over the coming years and play its part in supporting the global energy transition.”
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