RIYADH: Masdar, the UAE-based developer and operator of utility-scale renewable energy projects, has signed landmark agreements which aim to develop 4GW green hydrogen facilities in Egypt by 2030, according to a statement.
The plants are projected to produce as much as 480,000 tons of green hydrogen per year.
The plants will be located in the Suez Canal Economic Zone as well as on the Mediterranean coast.
To propel this plan, Masdar and Hassan Allam Utilities have signed a memorandum of understanding with several institutions including the General Authority for the Suez Canal Economic Zone, New and Renewable Energy Authority, the Egyptian Electricity Transmission Co., among others.
The agreement will help bolster strategic partnerships between the UAE and Egypt in the renewable energy and green hydrogen field.
The agreement also falls in line with Egypt’s Vision 2030 and sustainable development strategy.
Both the UAE and Egypt are set to host climate conferences in the near future as they intend to have an active role in climate action and slashing carbon emissions in general.
