Courtesy of ACWA Power, Image used for illustrative purpose only.
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ACWA signs agreement for massive Egypt green hydrogen project

ACWA Power has signed a framework agreement for the development of a green hydrogen project in Egypt that could scale up to produce two million tonnes of ammonia per year.

The agreement covers development of the $4 billion first phase of the project, with a capacity of 600kt of green ammonia per year, to be powered by wind and solar farms.

Saudi Arabia-based ACWA Power signed the agreement, which follows a memorandum of understanding sealed in December 2022, with the Sovereign Fund of Egypt (TSFE), the Suez Canal Economic Zone (SCZone), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA).

Marco Arcelli, chief executive of ACWA Power, said: “Egypt is well-positioned to become one of the world’s top producers of green hydrogen and we are elated to be a part of the country’s energy transition.”

The company broke ground on another green hydrogen project, located in Uzbekistan, in November.

The first phase of the project will be capable of producing 3kt of green hydrogen per year. Once the planned second phase is complete, 2.4GW of wind energy will power the production of 500kt of green ammonia annually.

The Saudi company said it signed agreements during COP28 in Dubai to develop green hydrogen projects in Jordan and Indonesia.

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