Mubasher: The UAE-based Masdar and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, have reached two agreements to develop green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast.
The plants will have an electrolyzer capacity of 4 gigawatts (GW) by 2030 and an output of up to 480,000 tonnes of green hydrogen per year, according to a recent press release.
The two Memorandum of Understandings (MoUs) were signed with Egyptian state-backed organisations, including The General Authority for Suez Canal Economic Zone, New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and The Sovereign Fund of Egypt.
This step will contribute to fostering the strategic partnership between the UAE and Egypt in renewable energy and green hydrogen.
The UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change, and Chairman of Masdar, Sultan bin Ahmed Al Jaber, commented: "As our two countries prepare to host the next two COPs, we look forward to working with our partners in Egypt to make practical advances in the energy transition that will provide significant benefits for the economy and the climate."
Meanwhile, the CEO of Hassan Allam Holding, Amr Allam, commented: "In the first phase of the project, Hassan Allam Utilities and Masdar aim to establish a green hydrogen manufacturing facility, which would be operational by 2026, producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal."
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