{"id":325291,"date":"2022-04-26T13:16:55","date_gmt":"2022-04-26T13:16:55","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325291"},"modified":"2022-04-26T13:16:55","modified_gmt":"2022-04-26T13:16:55","slug":"egypt-signs-preliminary-deals-for-green-hydrogen-with-hassan-allam-masdar","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/04\/26\/egypt-signs-preliminary-deals-for-green-hydrogen-with-hassan-allam-masdar\/","title":{"rendered":"Egypt signs preliminary deals for green hydrogen with Hassan Allam, Masdar"},"content":{"rendered":"

Egypt signed on\u00a0 two memoranda<\/span>\u00a0<\/span><\/span>of understanding with UAE renewable energy company Masdar and Hassan Allam Utilities \u2013 part of Hassan Allam Holding \u2013 to construct plants for green hydrogen production in the country.<\/p>\n

Masdar and Hassan Allam will form a strategic alliance to develop green hydrogen production plants in the Suez Canal Economic Zone<\/a> (SCZone) and on the Mediterranean coast, to produce up to 480,000 tons of green hydrogen annually, according to a statement by the Egyptian Cabinet.<\/p>\n

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Egyptian Prime Minister Moustafa Madbouly attended the signing ceremony with other government officials.<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The general authority of the SCZone, the Sovereign Fund of Egypt<\/a> (TSFE), the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority (NREA) also signed the MoUs.<\/p>\n

Egypt seeks to encourage global, Arab, and local companies to step into its green energy market, as what went on this signed deal, added the statement.<\/p>\n

Madbouly said Egypt is looking forward to enticing foreign investments into green hydrogen production as part of its ambitious plans to become a hub for clean energy to Europe and the whole world.<\/p>\n

Egypt has received many offers submitted by international companies to build up green hydrogen projects in the SCZone, where Egypt needs to locate the production of the clean-burning fuel.<\/p>\n

The North African country is also exerting efforts to turn its 72-kilometre-long Suez Canal into a \u201cgreen route,\u201d ahead of its hosting<\/a> of the 2022 UN Conference of Parties on Climate Change (COP27) in Sharm El-Sheikh this November.<\/p>\n