By Yemi Olakitan
A 3.5 billion dollar green hydrogen project would be built in Egypt, according to a memorandum of agreement signed by the Saudi Arabian company Alfanar.
From 100,000 tonnes of green hydrogen annually, the facility will create 500,000 tonnes of green ammonia, which is used in agricultural fertilizers.
The project is one of seven Memorandums of Understanding (MoU) that Egypt and foreign businesses, including Globeleq and Actis, signed last week in order to establish green hydrogen and ammonia production facilities in the Egyptian port of Ain Sokhna.
Egypt has been attempting to establish itself as a regional hub for the development of green fuels as it prepares to host the next COP27 UN Climate Change Conference.
In the past several months, the nation has inked a number of MOUs, including one for a $8 billion green hydrogen facility in the Suez Canal Economic Zone.
Launch dates and other specifics have not been made public.
Including renewable energy, Alfanar develops power generation and transmission projects. It runs a 50MW solar plant in Aswan, Egypt’s Benban Solar Park.
