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Saudi developer and operator of power and water plants ACWA Power is considering investing in green hydrogen and sea water desalination projects in Egypt, the company’s Chairman said.
On Tuesday, ACWA Power had signed an agreement to develop and operate one of the largest onshore wind farms in the world in Egypt at an investment of $1.5 billion.
During a meeting with Egyptian Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mohamed Shaker, ACWA Power’s Chairman Mohammad Abunayyan said the company is also interested in investing in two promising sectors in Egypt, namely water desalination and green hydrogen.
A press statement quoted him as saying that ACWA Power has used its experience as one of the largest producers of desalinated water in the world to reduce the energy intensity of desalination processes.
The Saudi company is the largest private operator of water desalination plants in the world with a total production capacity of 6.4 million m3/day, according to past statements from ACWA Power.
Abunayyan said the company is also keen to tap Egypt’s potential as a green hydrogen production hub.
Prime Minister Madbouly said Egypt has set a target of establishing 6.4 million m3/day of desalination capacity by 2050 and promote local production of components used in desalination plants, such as membranes.
He also welcomed ACWA Power’s plans to invest in green hydrogen, noting that Egypt is qualified in all respects to become a hub for producing, exporting and transporting green hydrogen.
Egypt will host the UN climate change conference COP27 this year and the country has announced many projects on the green energy front. Watch the Zawya video here.
(Writing by Eman Hamed; Editing by Anoop Menon)
