Egypt signs an MoU with Norway for green hydrogen

Egypt signed a five-billion-U.S. dollar deal with Scatec, a Norwegian renewable energy company, to establish and operate a green hydrogen production facility with a capacity of 100 megawatts in the Suez Canal Economic Zone, Egypt’s cabinet said in a statement.

Egypt also signed an agreement on the purchase of the produced green hydrogen with Scatec, the Sovereign Fund of Egypt, Orascom Development Egypt, Egypt-based Misr Fertilizers Production Company, and Abu Dhabi-based Fertiglobe.

The produced green hydrogen by the Norwegian factory will be sent to the Fertiglobe factory in Egypt for making ammonia according to a long-term contract, the statement added.

“Producing green hydrogen is a priority for Egypt now, and part of the country’s strategy for promoting the green economy,” said the statement.

Later in another ceremony, the Sovereign Fund of Egypt and the Norwegian Investment Fund signed a framework agreement for cooperation in developing renewable energy, green hydrogen, and green infrastructure projects in several African countries.

Source: http://www.xinhuanet.com/