the development of a 2 gigawatt (GW) green hydrogen project in the Suez Canal Economic Zone
17 November 2022Hassan Allam Utilities, Masdar (Abu Dhabi Future Energy Company) and Infinity Power Holding announced today that they have signed a framework agreement with The Sovereign Fund of Egypt and leading Egyptian state-backed organizations on the development of a 2 gigawatt (GW) green hydrogen project in the Suez Canal Economic Zone المنطقة الاقتصادية لقناة السويس SCZONE Back in April 2022, two Memorandums of Understanding (MoUs) were signed related to the development of two green hydrogen production plants in Egypt, one in the SCZONE and the other on the Mediterranean, targeting an electrolyzer capacity of 4 gigawatts (GW) by 2030, and an output of up to 480,000 tonnes of green hydrogen per year. Today’s agreement was signed in the presence of HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate, and Chairman of Masdar, HE Dr. Mohamed Shaker El-Markabi, Egypt’s Minister of Electricity and Renewable Energy and HE Hala Al-Said, Egyptian Minister of Planning and Economic Development, Waleid Gamaleldien Chairman of SCZONE, Ayman Soliman, Chief Executive Officer of The Sovereign Fund of Egypt, and Eng. Sabah Mashaly, EETC Chairwoman, on the sidelines of the 2022 United Nations Climate Change Conference (COP27). Amr Allam, CEO of Hassan Allam Holding, said, “Such strategic partnerships between Hassan Allam Utilities, Masdar, and Infinity Power Holding provide more opportunities that support Egypt’s transition towards a green economy and promote sustainable development across the country. We are proud to contribute to the development of green hydrogen production facilities in Egypt while leveraging the country's unparalleled renewable resources."