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Masdar and Hassan Allam Utilities Sign MoUs To Develop Green Hydrogen in Egypt | |
| Staff Writer |
To cement Masdar as an early mover in the global hydrogen market and expand their capacity to deliver zero carbon energy solutions, they have signed two MOUs with Egyptian state-backed organisations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast partnering with Egypt’s Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group.
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Egypt is an ideal location for the production of Green hydrogen, produced by splitting water into hydrogen and oxygen using renewable electricity, as it has abundant solar and wind energy resources.
“Today’s partnership agreements to explore the development of green hydrogen production demonstrates the strength of the close relationship between The UAE and Egypt,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change and chairman of Masdar.
The two projects will accelerate the energy transition process in the region, said the Prime Minister of Egypt Mostafa Kamal Madbouly, stressing that the country is working to encourage investment in green energy projects.
Masdar together with its local partner hope to produce 100,000 tonnes of e-methanol for the highly polluting shipping industry as a potential key clean fuel, in the first phase, before scaling up to 4GW of renewable H2 by 2030, primarily for the export of green ammonia.
Maersk recently announcing the purchase of 12 methanol-powered vessels, along with plans to produce the liquid at scale.
Green methanol can be said to be carbon-neutral as the CO2 is effectively recycled, while it has important advantages over the two other potential clean shipping fuels hydrogen and ammonia it is both more energy-dense by volume and easier to handle.
Along with its proximity to global markets that are looking to import green hydrogen, this will allow significant growth for this sector in the future, and the agreements are in line with “Egypt Vision 2030” and its sustainable development strategy, she said.