Egypt plans to turn SCZONE into green fuel hub

Seven memorandum of understandings (MoU) have been signed in Egypt to kick off studies on green hydrogen production projects in Suez Canal Economic Zone (SCZONE).

The MOUs were signed between the Ministry of Electricity and Renewable Energy, represented by the New and Renewable Energy Development, the Egyptian Electricity Transmission Company, the Sovereign Fund of Egypt, the General Authority of the Suez Canal Economic Zone, and consortia of international and local companies.

The consortia includes Saudi Arabia’s Acwa Power, Benchmark’s consortium, the Holding Company for Chemical Industries, China’s China Energy, Germany’s DAI, India’s OCIOR ENERGY, VoltaLia – TAQA, and Britain’s British Petroleum.

Egypt’s Prime Minister Mostafa Madbouly commented on the occasion stating that the MoUs reflect efforts to position the country as the regional centre for green fuel production.

The new MoUs are a continuation of the signings of 16 previous MoUs for the production of green hydrogen, green ammonia, and e-methanols, 9 of which were converted into framework agreements during COP27.