UAE renewable energy firm Masdar and its partners said on Wednesday they had signed a framework agreement with Egyptian state-backed organisations to develop a 2 gigawatt (GW) green hydrogen production project in the Suez Canal Economic Zone (SCZONE).
The consortium, which includes Infinity Power and Hassan Allam Utilities, had signed two memorandums of understanding in April with Egyptian entities to develop two green hydrogen production plants in Egypt, one in the SCZONE and the other on the Mediterranean.
"Today's announcement serves to strengthen the ties between the UAE and Egypt and highlights our two nations' commitment to delivering zero-carbon energy solutions," Sultan al-Jaber, the UAE's industry minister and special climate envoy, said in a statement.
The electrolyzer facilities in the SCZONE and the Mediterranean can be extended up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen to local industries, the Masdar statement said.
Masdar, Infinity Power and Hassan Allam Utilities last week signed an agreement to develop one of the world's largest onshore projects in Egypt.
Masdar has a portfolio of renewable energy assets with a combined value of more than $20 billion and a total capacity of more than 15 GW.
The deal also comes after Egypt signed eight framework agreements on Tuesday to develop green hydrogen and ammonia projects, bringing the total number of deals to nine with total investments of $85 billion, according to a cabinet statement on Wednesday.
